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

Medpace Holdings, Inc. (NASDAQ:MEDP) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 314,935 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 229,833 shares.The stock last traded at $361.00 and had previously closed at $437.18.

The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TD Cowen assumed coverage on shares of Medpace in a report on Wednesday, May 29th. They set a “buy” rating and a $452.00 target price for the company. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday. Guggenheim increased their target price on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird increased their price target on shares of Medpace from $456.00 to $469.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and increased their price target for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Medpace currently has a consensus rating of “Moderate Buy” and a consensus target price of $445.29.

Insider Activity

In other news, CEO August J. Troendle sold 4,782 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the transaction, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO August J. Troendle sold 3,987 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the transaction, the chief executive officer now directly owns 716,197 shares in the company, valued at $286,894,194.26. The disclosure for this sale can be found here. Insiders have sold 29,621 shares of company stock valued at $11,816,852 over the last ninety days. 20.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Medpace

Hedge funds have recently bought and sold shares of the business. Arcadia Investment Management Corp MI grew its stake in Medpace by 40.3% during the first quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after buying an additional 29 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in Medpace by 1.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,075 shares of the company’s stock worth $943,000 after buying an additional 39 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Medpace by 5.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after buying an additional 39 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Medpace by 5.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 954 shares of the company’s stock worth $292,000 after buying an additional 45 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Medpace by 43.3% during the first quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock worth $60,000 after buying an additional 45 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Medpace Stock Down 15.6 %

The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 2.08 and a beta of 1.36. The business’s 50 day simple moving average is $406.11 and its 200-day simple moving average is $381.21.

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.