Medpace (MEDP) Sees Unusually-High Trading Volume on Earnings Beat

Medpace Holdings Inc (NASDAQ:MEDP) shares saw strong trading volume on Wednesday following a stronger than expected earnings report. 40,149 shares changed hands during mid-day trading, a decline of 76% from the previous session’s volume of 170,005 shares.The stock last traded at $59.64 and had previously closed at $61.48.

The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. Medpace had a net margin of 10.44% and a return on equity of 14.34%. The business had revenue of $117.80 million during the quarter, compared to analyst estimates of $104.97 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue was up 24.5% on a year-over-year basis.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Medpace from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. BidaskClub lowered shares of Medpace from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird set a $35.00 price target on shares of Medpace and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating and set a $40.00 price target on shares of Medpace in a research report on Friday, April 20th. Finally, ValuEngine raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $40.33.

In related news, major shareholder Medpace Limited Partnership sold 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $35.49, for a total transaction of $106,470,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 29.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its stake in Medpace by 28.2% during the second quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock worth $55,106,000 after buying an additional 282,216 shares during the period. BlackRock Inc. grew its stake in Medpace by 7.8% during the first quarter. BlackRock Inc. now owns 1,212,875 shares of the company’s stock worth $42,342,000 after buying an additional 87,897 shares during the period. UBS Group AG grew its stake in Medpace by 2,869.7% during the first quarter. UBS Group AG now owns 323,307 shares of the company’s stock worth $11,286,000 after buying an additional 312,420 shares during the period. Renaissance Technologies LLC grew its stake in Medpace by 115.6% during the fourth quarter. Renaissance Technologies LLC now owns 183,500 shares of the company’s stock worth $6,654,000 after buying an additional 98,400 shares during the period. Finally, Prudential Financial Inc. grew its stake in Medpace by 102.3% during the first quarter. Prudential Financial Inc. now owns 176,989 shares of the company’s stock worth $6,178,000 after buying an additional 89,510 shares during the period. Institutional investors own 27.45% of the company’s stock.

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2.18 billion, a PE ratio of 39.13, a P/E/G ratio of 2.25 and a beta of 1.12.

About Medpace

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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