Medpace (NASDAQ:MEDP) Stock Jumps 6.7% – Here’s What Happened

Medpace Holdings, Inc. (NASDAQ:MEDP) shares rose 6.7% on Wednesday. The stock traded as high as $661.99 and last traded at $664.0180. Approximately 256,301 shares changed hands during trading, a decline of 21% from the average session volume of 326,005 shares. The stock had previously closed at $622.43.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MEDP. Weiss Ratings upgraded shares of Medpace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Barclays increased their price objective on shares of Medpace from $600.00 to $625.00 and gave the company an “equal weight” rating in a report on Wednesday, October 7th. Royal Bank Of Canada raised their price objective on Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $535.00 target price on shares of Medpace in a report on Thursday, July 23rd. Finally, BMO Capital Markets lifted their target price on Medpace from $400.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medpace has a consensus rating of “Hold” and a consensus price target of $607.73.

Medpace Stock Performance

The company has a 50 day simple moving average of $607.09 and a two-hundred day simple moving average of $534.49. The firm has a market cap of $18.04 billion, a PE ratio of 37.96, a P/E/G ratio of 2.76 and a beta of 1.18.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.98 by $0.27. The company had revenue of $707.33 million during the quarter, compared to analyst estimates of $689.51 million. Medpace had a net margin of 17.67% and a return on equity of 110.15%. Medpace’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $3.10 EPS. As a group, research analysts predict that Medpace Holdings, Inc. will post 17.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Medpace

In other news, CEO August Troendle sold 49,018 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total value of $30,788,695.98. Following the completion of the transaction, the chief executive officer owned 433,372 shares of the company’s stock, valued at $272,205,286.92. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 336,140 shares of company stock worth $208,008,328. Company insiders own 20.50% of the company’s stock.

Institutional Trading of Medpace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Novem Group lifted its holdings in Medpace by 1.0% in the third quarter. Novem Group now owns 2,127 shares of the company’s stock valued at $1,328,000 after acquiring an additional 22 shares during the period. Balefire LLC boosted its position in Medpace by 6.1% in the 1st quarter. Balefire LLC now owns 451 shares of the company’s stock worth $217,000 after purchasing an additional 26 shares in the last quarter. Root Financial Partners LLC boosted its position in Medpace by 34.1% in the 1st quarter. Root Financial Partners LLC now owns 122 shares of the company’s stock worth $59,000 after purchasing an additional 31 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Medpace by 2.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,158 shares of the company’s stock worth $613,000 after purchasing an additional 32 shares during the period. Finally, Riversedge Advisors LLC grew its stake in shares of Medpace by 6.2% during the 3rd quarter. Riversedge Advisors LLC now owns 552 shares of the company’s stock worth $345,000 after purchasing an additional 32 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.