Insider Selling: Medpace Holdings, Inc. (NASDAQ:MEDP) CEO Sells 19,930 Shares of Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) CEO August J. Troendle sold 19,930 shares of the stock in a transaction that occurred on Wednesday, December 30th. The stock was sold at an average price of $140.01, for a total value of $2,790,399.30. Following the completion of the transaction, the chief executive officer now directly owns 706,643 shares in the company, valued at approximately $98,937,086.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ MEDP opened at $139.20 on Friday. The stock’s fifty day moving average price is $132.78 and its 200 day moving average price is $117.91. Medpace Holdings, Inc. has a 1 year low of $58.72 and a 1 year high of $150.57. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 42.57 and a beta of 1.34.

Medpace (NASDAQ:MEDP) last released its earnings results on Saturday, October 31st. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $230.37 million for the quarter, compared to the consensus estimate of $223.56 million. Medpace had a return on equity of 17.67% and a net margin of 13.87%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. As a group, sell-side analysts predict that Medpace Holdings, Inc. will post 4 earnings per share for the current year.

A number of research firms have weighed in on MEDP. Truist upgraded Medpace from a “hold” rating to a “buy” rating and upped their target price for the stock from $124.00 to $135.00 in a report on Friday, October 2nd. Zacks Investment Research upgraded Medpace from a “sell” rating to a “hold” rating in a report on Friday, October 30th. Finally, BidaskClub upgraded Medpace from a “buy” rating to a “strong-buy” rating in a report on Friday, December 11th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $107.25.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in Medpace by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 41,283 shares of the company’s stock valued at $4,613,000 after buying an additional 113 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Medpace by 0.7% during the 2nd quarter. Natixis Advisors L.P. now owns 19,227 shares of the company’s stock valued at $1,788,000 after buying an additional 130 shares during the period. Pitcairn Co. raised its position in shares of Medpace by 3.8% during the 3rd quarter. Pitcairn Co. now owns 7,436 shares of the company’s stock valued at $831,000 after buying an additional 273 shares during the period. Group One Trading L.P. purchased a new stake in shares of Medpace during the 3rd quarter valued at approximately $34,000. Finally, American International Group Inc. raised its position in shares of Medpace by 1.6% during the 2nd quarter. American International Group Inc. now owns 19,272 shares of the company’s stock valued at $1,793,000 after buying an additional 306 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas.

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