Fred Davenport, Jr. Sells 5,972 Shares of Medpace (NASDAQ:MEDP) Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) Director Fred Davenport, Jr. sold 5,972 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $581.88, for a total value of $3,474,987.36. Following the sale, the director directly owned 3,498 shares in the company, valued at $2,035,416.24. The trade was a 63.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Medpace Trading Up 0.1%

Shares of Medpace stock opened at $594.53 on Wednesday. The company has a market capitalization of $16.75 billion, a PE ratio of 41.58, a PEG ratio of 2.67 and a beta of 1.40. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $625.00. The stock’s fifty day simple moving average is $520.56 and its 200 day simple moving average is $407.66.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, topping the consensus estimate of $3.50 by $0.36. The business had revenue of $659.90 million for the quarter, compared to the consensus estimate of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The firm’s revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.01 EPS. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. Analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Medpace

Several hedge funds have recently modified their holdings of MEDP. Mawer Investment Management Ltd. bought a new position in shares of Medpace in the 1st quarter valued at about $212,131,000. Vulcan Value Partners LLC grew its holdings in shares of Medpace by 221.6% in the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company’s stock valued at $99,159,000 after acquiring an additional 224,578 shares in the last quarter. Norges Bank bought a new position in shares of Medpace in the 2nd quarter valued at about $66,597,000. Clarkston Capital Partners LLC bought a new position in shares of Medpace in the 2nd quarter valued at about $40,569,000. Finally, Bares Capital Management Inc. grew its holdings in Medpace by 319.2% during the second quarter. Bares Capital Management Inc. now owns 157,084 shares of the company’s stock worth $49,302,000 after purchasing an additional 119,608 shares during the period. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

MEDP has been the subject of a number of research reports. Zacks Research upgraded Medpace from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Robert W. Baird set a $613.00 target price on Medpace in a report on Friday, October 24th. UBS Group cut Medpace from a “neutral” rating to a “sell” rating and increased their target price for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. Truist Financial set a $555.00 target price on Medpace in a report on Monday, October 27th. Finally, William Blair restated a “market perform” rating on shares of Medpace in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $475.90.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.