Medpace (MEDP) Trading 8.9% Higher on Strong Earnings

Shares of Medpace Holdings Inc (NASDAQ:MEDP) traded up 8.9% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $53.27 and last traded at $52.10. 974,712 shares changed hands during mid-day trading, an increase of 125% from the average session volume of 433,897 shares. The stock had previously closed at $47.85.

The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Medpace had a net margin of 10.84% and a return on equity of 16.19%. The business had revenue of $179.00 million during the quarter, compared to the consensus estimate of $175.07 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 44.4% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Medpace from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. SunTrust Banks raised shares of Medpace from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Wednesday. They noted that the move was a valuation call. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a research report on Friday, August 10th. William Blair raised shares of Medpace from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research raised shares of Medpace from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, July 3rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Medpace presently has an average rating of “Buy” and an average price target of $46.57.



In other Medpace news, CEO August J. Troendle sold 46,778 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $58.96, for a total transaction of $2,758,030.88. Following the completion of the transaction, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at approximately $20,745,134.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Medpace Investors, Llc sold 61,141 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $60.20, for a total transaction of $3,680,688.20. Following the transaction, the insider now directly owns 9,084,369 shares of the company’s stock, valued at $546,879,013.80. The disclosure for this sale can be found here. Insiders have sold a total of 11,907,218 shares of company stock valued at $656,554,339 over the last three months. 29.50% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Laurion Capital Management LP acquired a new stake in shares of Medpace in the 2nd quarter worth approximately $29,230,000. BlackRock Inc. lifted its stake in shares of Medpace by 32.4% in the 2nd quarter. BlackRock Inc. now owns 1,605,667 shares of the company’s stock worth $69,043,000 after acquiring an additional 392,792 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Medpace by 28.2% in the 2nd quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock worth $55,106,000 after acquiring an additional 282,216 shares during the period. Chartwell Investment Partners LLC acquired a new stake in shares of Medpace in the 2nd quarter worth approximately $11,190,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Medpace by 208.9% in the 2nd quarter. Renaissance Technologies LLC now owns 338,900 shares of the company’s stock worth $14,573,000 after acquiring an additional 229,200 shares during the period. 39.89% of the stock is owned by hedge funds and other institutional investors.

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 1.20 and a beta of 1.02. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32.

About Medpace (NASDAQ:MEDP)

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 a range of therapeutic areas.

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