Kevin Brady Offloads 3,000 Shares of Medpace for $1.77 Million

Kevin Brady, Chief Financial Officer of Medpace Holdings, Inc. (NASDAQ:MEDP), recently sold 3,000 shares of the company’s stock in a transaction that took place on November 21, 2023. The shares were sold at an average price of $590.35, resulting in a total transaction value of $1,771,050. Following this sale, Brady retains ownership of 6,000 shares, which are currently valued at approximately $3,542,100.

This sale represents a 33.33% decrease in Brady’s ownership stake in Medpace. The transaction was disclosed through a legal filing with the U.S. Securities and Exchange Commission (SEC), which provides transparency into the financial activities of company insiders.

Market Performance and Financial Outlook

On the day following the sale, Medpace’s stock opened at $606.60, reflecting a slight decrease of 0.9%. The company boasts a market capitalization of $17.09 billion and has reported a price-to-earnings (PE) ratio of 42.42, along with a price/earnings growth (PEG) ratio of 2.67 and a beta of 1.42.

Over the past year, Medpace’s stock has seen significant fluctuations, with a low of $250.05 and a high of $626.26. Its fifty-day simple moving average stands at $556.49, while the two-hundred day average is at $440.30.

Medpace’s most recent earnings report was released on October 22, 2023, revealing earnings per share (EPS) of $3.86 for the quarter. This figure surpassed analysts’ expectations of $3.50 by $0.36. The company generated revenue of $659.90 million during this period, exceeding the predicted $640.49 million. Year-over-year, Medpace’s revenue increased by 23.7%, compared to $3.01 EPS from the same quarter last year. The firm has also set a fiscal year 2025 guidance of 14.600-14.860 EPS.

Institutional Investor Activity

Recent activities among institutional investors indicate growing interest in Medpace. Quent Capital LLC entered a new position in Medpace during the third quarter, valued at approximately $25,000. Likewise, Optiver Holding B.V. acquired a stake worth about $27,000.

Geneos Wealth Management Inc. increased its stake in Medpace by 64.9% in the first quarter, now holding 94 shares valued at $29,000 after acquiring an additional 37 shares. In a noteworthy move, Brooklyn Investment Group raised its position by 244.8% during the same period, now owning 100 shares worth $30,000.

Overall, institutional investors and hedge funds collectively own 77.98% of Medpace’s stock, reflecting strong confidence in the company’s ongoing growth and performance.

Medpace Holdings, Inc. specializes in providing outsourced clinical development services for the biotechnology, pharmaceutical, and medical device industries. Its extensive service offerings include clinical trial management, regulatory affairs, patient recruitment, and various data-driven solutions.