Medpace (NASDAQ:MEDP) Sees Strong Trading Volume After Better-Than-Expected Earnings

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 182,992 shares were traded during trading, a decline of 24% from the previous session’s volume of 239,993 shares.The stock last traded at $365.34 and had previously closed at $376.26.

The company reported $3.20 EPS for the quarter, topping the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The business had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same period last year, the company earned $2.27 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MEDP shares. Robert W. Baird upped their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and raised their target price for the stock from $340.00 to $450.00 in a report on Tuesday. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and lifted their price target for the company from $282.00 to $452.00 in a report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $443.00.

Insider Transactions at Medpace

In related news, VP Susan E. Burwig sold 102 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the sale, the director now owns 250 shares of the company’s stock, valued at $102,467.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 in the last ninety days. Corporate insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Medpace by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after acquiring an additional 148 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Medpace by 14.8% in the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after acquiring an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Medpace by 355.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after buying an additional 2,774 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Medpace during the fourth quarter worth approximately $1,992,000. Finally, Chase Investment Counsel Corp lifted its position in Medpace by 3.2% during the third quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock worth $2,384,000 after buying an additional 301 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Down 2.4 %

The company has a market cap of $12.32 billion, a PE ratio of 40.53, a P/E/G ratio of 1.99 and a beta of 1.38. The stock has a 50-day simple moving average of $397.84 and a 200 day simple moving average of $323.66.

About Medpace

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.