Medpace Holdings, Inc. (NASDAQ:MEDP) CEO August J. Troendle Sells 100,000 Shares of Stock

Medpace Holdings, Inc. (NASDAQ:MEDPGet Free Report) CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The sale was disclosed in a document filed with the SEC, which is available through this link.

Medpace Stock Down 1.0 %

Shares of NASDAQ:MEDP opened at $405.65 on Monday. Medpace Holdings, Inc. has a 12-month low of $167.00 and a 12-month high of $419.42. The business has a 50 day moving average of $335.95 and a 200-day moving average of $292.17. The stock has a market cap of $12.48 billion, a PE ratio of 45.68 and a beta of 1.38.

Medpace (NASDAQ:MEDPGet Free Report) last released its quarterly earnings results on Monday, February 12th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.24. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The company had revenue of $498.40 million during the quarter, compared to the consensus estimate of $498.72 million. During the same period in the previous year, the business earned $2.12 earnings per share. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. Equities research analysts expect that Medpace Holdings, Inc. will post 10.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Medpace by 0.9% during the first quarter. BlackRock Inc. now owns 3,792,694 shares of the company’s stock valued at $620,448,000 after purchasing an additional 35,121 shares in the last quarter. Wasatch Advisors Inc. raised its position in Medpace by 12.1% during the first quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock valued at $446,338,000 after purchasing an additional 294,103 shares in the last quarter. Vanguard Group Inc. raised its position in Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after purchasing an additional 142,591 shares in the last quarter. State Street Corp raised its position in Medpace by 2.5% during the first quarter. State Street Corp now owns 899,855 shares of the company’s stock valued at $147,207,000 after purchasing an additional 21,868 shares in the last quarter. Finally, Riverbridge Partners LLC raised its position in Medpace by 6.7% during the fourth quarter. Riverbridge Partners LLC now owns 683,943 shares of the company’s stock valued at $209,649,000 after purchasing an additional 43,036 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEDP has been the subject of a number of research analyst reports. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. Robert W. Baird boosted their price objective on Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Finally, StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.67.

View Our Latest Stock Report on MEDP

About Medpace

(Get Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.

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