Medpace Holdings, Inc.
- Open
- 577.89
- Day high
- 579.57
- Day low
- 565.74
- Prev close
- 578.30
- Volume
- 124K
- Mkt cap
- $16.0B
- P/E (TTM)
- 33.1
- EPS (TTM)
- $17.39
- P/B
- 37.0
- P/S
- 5.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$7.4M over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Medpace Holdings, Inc. (MEDP) is a Healthcare company listed on NASDAQ. The stock is up 35% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 1 published research article covering MEDP.
Medpace Holdings, Inc. (MEDP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MEDP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $3.98 | $4.25 | +6.8% | $707M | +2.6% |
| Apr 23, 2026 | $3.74 | $4.28 | +14.4% | $707M | +1.3% |
| Oct 22, 2025 | $3.53 | $3.86 | +9.3% | $660M | +2.9% |
| Jul 21, 2025 | $2.98 | $3.10 | +4.0% | $603M | +12.0% |
| Jul 22, 2024 | $2.54 | $2.75 | +8.3% | $528M | -0.1% |
| Jul 24, 2023 | $1.91 | $1.93 | +1.0% | $461M | +2.8% |
| Feb 13, 2023 | $1.79 | $2.12 | +18.4% | $394M | +2.1% |
| Jul 25, 2022 | $1.31 | $1.46 | +11.5% | $351M | +2.1% |
| Feb 14, 2022 | $1.25 | $1.32 | +5.6% | $309M | -0.2% |
| Feb 15, 2021 | $1.24 | $1.35 | +8.9% | $260M | +9.7% |
| Jul 27, 2020 | $0.41 | $0.68 | +65.9% | $205M | +56.1% |
| Apr 28, 2020 | $0.75 | $0.80 | +6.7% | $231M | +1.3% |
MEDP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | McCarthy Cornelius P. IIIdirector | Option | 28 | — |
| Jul 2, 2026 | Carley Brian Tdirector | Option | 36 | — |
| Jun 1, 2026 | EWALD STEPHEN Pofficer: General Counsel & Corp. Secy. | Option | 16,349 | $138.87 |
| Jun 1, 2026 | EWALD STEPHEN Pofficer: General Counsel & Corp. Secy. | Sell | 16,349 | $450.00 |
| May 18, 2026 | DAVENPORT FRED B JRdirector | Grant | 1,110 | $415.27 |
| May 18, 2026 | Gwadry-Sridhar Femida H.director | Grant | 1,110 | $415.27 |
| May 18, 2026 | McCarthy Cornelius P. IIIdirector | Grant | 1,110 | $415.27 |
| May 18, 2026 | Carley Brian Tdirector | Grant | 1,110 | $415.27 |
| May 18, 2026 | Kraft Robert O.director | Grant | 1,110 | $415.27 |
| May 18, 2026 | Zander Dani S.director | Grant | 1,110 | $415.27 |
| Apr 28, 2026 | EWALD STEPHEN Pofficer: General Counsel & Corp. Secy. | Grant | 10,000 | $410.54 |
| Apr 28, 2026 | Brady Kevin M.officer: CFO & Treasurer | Option | 7,000 | $138.87 |
| Apr 28, 2026 | BURWIG SUSAN Eofficer: Exec. VP, Operations | Grant | 10,000 | $410.54 |
| Apr 28, 2026 | EWALD STEPHEN Pofficer: General Counsel & Corp. Secy. | Grant | 5,000 | — |
| Apr 28, 2026 | Brady Kevin M.officer: CFO & Treasurer | Grant | 5,000 | — |
Source: MEDP SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full MEDP insider & 13F page →Medpace Holdings, Inc. company profile
Overview
Medpace Holdings, Inc. (NASDAQ:MEDP) is a Cincinnati-based contract research organization (CRO) founded in 1992 that provides clinical trial services to pharmaceutical, biotechnology, and medical device companies. The company went public in August 2016 and has established itself as a specialized CRO focused primarily on serving biotech clients through the complete clinical development process from Phase I through Phase IV trials across various therapeutic areas.
Business
Medpace operates in the contract research organization (CRO) industry, which provides outsourced clinical trial services to pharmaceutical and biotechnology companies. The CRO industry exists because drug development is an extremely complex, lengthy, and expensive process that requires specialized expertise in regulatory affairs, clinical trial design, patient recruitment, data management, and statistical analysis. The company's core offering is full-service clinical development, meaning they handle virtually every aspect of a clinical trial on behalf of their clients. This includes development plan design, regulatory affairs consultation, clinical monitoring (overseeing trial sites and ensuring protocol compliance), coordinated central laboratory services, project management, data management and statistical analysis, pharmacovigilance (drug safety monitoring), new drug application submissions to regulatory authorities, and post-marketing clinical support. Medpace also provides specialized ancillary services including bio-analytical laboratory services (testing drug concentrations in blood samples), clinical human pharmacology (studying how drugs behave in the human body), imaging services (analyzing medical scans for trial endpoints), and electrocardiography reading support (interpreting heart rhythm data for safety monitoring). The company operates as a single business segment focused on clinical research services, with no meaningful revenue breakdown by therapeutic area disclosed. However, management has noted particular strength in metabolic and oncology therapeutic areas in recent periods.
Competitive moat
Medpace's competitive moat appears moderate but not insurmountable. The company's primary advantages stem from its specialized focus on biotech clients and full-service offerings, which has allowed it to develop deep expertise in the complex regulatory and operational requirements of clinical trials. This specialization creates switching costs for clients who value continuity and expertise throughout multi-year drug development programs. The company benefits from relationship-based competitive advantages, as clinical trials require significant trust between sponsors and CROs given the high stakes involved in drug development. Medpace's track record of execution and its personalized service model help retain clients across multiple programs. The company also has operational advantages through its integrated service platform, allowing it to manage complex trials more efficiently than competitors who may outsource various components. However, the CRO industry faces several competitive threats. Large pharmaceutical companies periodically bring clinical development capabilities in-house, reducing demand for outsourced services. Larger CROs like IQVIA and Syneos Health have greater scale advantages and can offer more competitive pricing, particularly during industry downturns. Additionally, technology-enabled competitors are emerging with digital-first approaches to clinical trials that could disrupt traditional service models. The company's focus on biotech clients, while providing specialization advantages, also creates vulnerability to funding cycles and limits diversification compared to CROs serving large pharmaceutical companies with more stable budgets.
Risks & safety
Medpace demonstrates a strong margin of safety with solid financial fundamentals and conservative capital structure. • Liquidity position: $441 million in cash and short-term investments as of Q1 2025, providing substantial cushion • Debt levels: Debt-to-equity ratio of 0.21, indicating conservative leverage with minimal solvency risk • Cash generation: Strong free cash flow of $572 million for full year 2024, demonstrating consistent cash conversion • Current ratio: 0.73 appears low but is typical for service businesses with deferred revenue liabilities • Valuation metrics: Trading at 20.2x P/E ratio and 18.6x EV/EBITDA, reasonable for a growing healthcare services company • Profitability: EBITDA margins of approximately 22-25% indicate strong operational efficiency • Other considerations: Diversified client base reduces concentration risk, though exposure to biotech funding cycles creates some cyclical vulnerability
Recent development
Over the past few years, Medpace has navigated a challenging period marked by elevated project cancellations and biotech funding constraints. The company experienced significant headwinds starting in 2022 when biotech funding began to tighten, leading to increased project cancellations and delays. Throughout 2024, the company faced elevated cancellations running at more than twice the normal quarterly average, primarily from companies that received funding during the COVID-era peak and subsequently ran out of capital. Despite these challenges, Medpace has maintained its strategic focus on selective project acceptance and full-service clinical development rather than competing aggressively on price or accepting lower-margin work. The company has emphasized maintaining high employee retention and productivity, achieving its lowest employee turnover in five years during 2024. Key operational developments include continued investment in productivity initiatives and exploration of offshoring back-office functions to optimize costs while maintaining service quality. The company has also maintained disciplined hiring practices, targeting modest headcount growth in the mid-single digits rather than aggressive expansion during uncertain market conditions. Looking forward, management expects the challenging environment to persist through the first half of 2025, with hopes for improvement in the second half as they anticipate achieving book-to-bill ratios above 1.15 and a return to more normalized cancellation levels. The company continues to see strong RFP (request for proposal) flow, suggesting underlying demand remains healthy despite the funding-related headwinds.
MEDP company profile · for informational purposes only — not investment advice.
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