Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) CEO August J. Troendle bought 94,119 shares of the stock in a transaction on Wednesday, September 21st. The stock was purchased at an average price of $161.63 per share, for a total transaction of $15,212,453.97. Following the purchase, the chief executive officer now directly owns 6,425,593 shares of the company's stock, valued at $1,038,568,596.59. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Medpace Stock Performance
Shares of MEDP traded down $0.95 during trading hours on Thursday, hitting $154.83. 393,461 shares of the company were exchanged, compared to its average volume of 343,725. The firm's 50 day moving average is $161.31 and its 200-day moving average is $152.71. Medpace Holdings, Inc. has a 52 week low of $126.94 and a 52 week high of $231.00. The company has a market cap of $4.80 billion, a PE ratio of 26.88 and a beta of 1.47.
Get Medpace alerts:Medpace (NASDAQ:MEDP – Get Rating) last announced its earnings results on Monday, July 25th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.12. Medpace had a return on equity of 30.56% and a net margin of 16.27%. The firm had revenue of $351.21 million during the quarter, compared to the consensus estimate of $344.01 million. During the same quarter in the prior year, the company earned $1.06 EPS. The firm's revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.
Institutional Trading of Medpace
Several hedge funds have recently added to or reduced their stakes in MEDP. BlackRock Inc. raised its holdings in Medpace by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,792,694 shares of the company's stock valued at $620,448,000 after acquiring an additional 35,121 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of Medpace by 12.1% in the 1st quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company's stock worth $446,338,000 after buying an additional 294,103 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Medpace by 6.2% in the 4th quarter. Invesco Ltd. now owns 985,930 shares of the company's stock worth $214,578,000 after buying an additional 57,837 shares in the last quarter. State Street Corp raised its holdings in shares of Medpace by 2.5% in the 1st quarter. State Street Corp now owns 899,855 shares of the company's stock worth $147,207,000 after buying an additional 21,868 shares in the last quarter. Finally, Echo Street Capital Management LLC raised its holdings in shares of Medpace by 18.4% in the 1st quarter. Echo Street Capital Management LLC now owns 695,336 shares of the company's stock worth $113,750,000 after buying an additional 108,133 shares in the last quarter. Institutional investors own 83.97% of the company's stock.Analyst Ratings Changes
Several research firms have recently issued reports on MEDP. StockNews.com downgraded Medpace from a "buy" rating to a "hold" rating in a research note on Thursday, September 8th. UBS Group began coverage on Medpace in a research note on Wednesday, September 7th. They set a "sell" rating and a $142.00 price target for the company.
About Medpace
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Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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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