Medpace Holdings, Inc.
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Range $515 – $692
Price Chart
About the company
Medpace Holdings, Inc. , founded in Cincinnati, Ohio, in 1992, functions as a contract research organization (CRO) delivering clinical development and research services. The company assists pharmaceutical, biotechnology, and medical device clients throughout North America, Europe, and Asia.
- CEO
- August James Troendle
- IPO
- 2016
- Employees
- 6,200
- HQ
- Cincinnati, OH, US
AI snapshot
Six angles, distilled from the data.
The stock remains in a powerful multi-month uptrend, trading well above its 200-day moving average of 515.87 and 50-day average of 480.87. It is pressing the upper end of its 52-week range, with the long-term setup still constructive despite the recent surge.
Street sentiment is cautious-to-neutral: consensus sits at Hold, and the average target of 503 trails the current market level. Recent calls have turned softer, with Jefferies downgrading to Hold, Baird moving to Neutral, even as Mizuho lifted its target to 586.
The earnings backdrop is mixed but still resilient. Medpace has beaten in 7 of the last 8 quarters, but the latest print missed by 24.0% on EPS, so shareholders should watch whether margin pressure or timing issues were one-off or more persistent. Next-year EPS estimates still point higher to 18.75 from 15.79 TTM.
Recent activity leans to net selling, but most of the tape is noise from awards, vesting, and exempt transactions. The only clear discretionary sale was Stephen P. Ewald’s 16,349-share sale on May 28, while the June director and officer entries are largely automatic or exempt-related rather than conviction signals.
Profitability remains strong, led by a 72.3% gross margin and 20.8% operating margin. Growth is still healthy, with revenue up 17.2% year over year and earnings up 37.1%, while free cash flow reached $744.6 million in fiscal 2025.
Medpace stands out as a high-margin life sciences services name with net cash of $246.6 million and a 4.94% free-cash-flow yield. The valuation is not cheap versus the sector, with a 33.19 P/E, so the setup favors execution over multiple expansion.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $16.79B
- P/E
- 34.58
- Fwd P/E
- 34.28
- PEG
- 1.34
- P/S
- 6.03
- P/B
- 39.24
- EV/EBITDA
- 27.24
- Div Yield
- 0.00%
- Gross Margin
- 28.76%
- Op Margin
- 20.97%
- Net Margin
- 17.67%
- ROE
- 110.15%
- ROIC
- 77.00%
Latest fiscal year · YoY change
- Revenue
- $2.53B+20.0%
- Gross Profit
- $760.62M+15.9%
- Op Income
- $534.93M
- Net Income
- $451.12M+11.6%
- EPS
- $15.64+19.8%
- OCF Growth
- +17.1%
- FCF Growth
- +19.2%
- 52W High
- $677.90
- 52W Low
- $373.00
- 50D MA
- $488.27
- 200D MA
- $516.59
- Beta
- 1.15
- RSI (14)
- 73
- Avg Volume
- 343.80K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Medpace posted strong Q2 2026 growth, record net bookings, and raised full-year guidance, while management said the business environment and oncology demand improved as cancellations eased.· July 23, 2026
- Revenue grew 17.2% to $707.3 million; EBITDA rose 17.6% to $153.4 million and EPS increased to $4.25 from $3.10.
- Net new business awards were $795.7 million, up 28.2% year over year, for a 1.13x net book-to-bill.
- Ending backlog was about $3 billion, up 4.9%, with roughly $1.96 billion expected to convert to revenue in the next 12 months.
- Management said cancellations were down sharply from Q1 and that oncology made up over half of bookings and award notifications.
- Full-year 2026 guidance was raised across revenue, EBITDA, net income, and EPS.
- results":"Revenue was $707.3 million in Q2 2026, up 17.2% year over year. EBITDA was $153.4 million, up 17.6%, with EBITDA margin at 21.7% versus 21.6% last year. Net income was $121.4 million, up 34.5% from $90.3 million, and diluted EPS was $4.25 versus $3.10. For the first six months, revenue was $1.41 billion, EBITDA was $302.8 million, and net income was $245.2 million. Net new business awards entering backlog were $795.7 million, up 28.2%, with a 1.13x net book-to-bill; ending backlog was approximately $3 billion, up 4.9%, and about $1.96 billion is expected to convert to revenue over the next 12 months. Cash from operating activities was $162 million, cash at quarter-end was $502.7 million, and the company repurchased about 706 thousand shares for $294.7 million. Full-year 2026 revenue is now expected at $2.805 billion to $2.885 billion, EBITDA at $618 million to $642 million, net income at $494 million to $514 million, and EPS at $17.25 to $17.95. Guidance assumes a 19% to 19.5% tax rate, $21.1 million of interest income, no additional share repurchases, and FX rates as of June 30, 2026.
- ceo":"August Troendle said the business environment was strong in Q2, cancellations were well behaved, and the quarter delivered a record in net bookings. He said RFPs were up sequentially and year over year, and that the company is making good progress positioning the business for 2027. In Q&A he said oncology has come back strongly, that oncology was over half of bookings and award notifications, and that the mix is shifting back toward historical patterns as cardiometabolic work cools off.","cfo":"Kevin Brady highlighted the core financial performance: revenue of $707.3 million, EBITDA of $153.4 million, net income of $121.4 million, and diluted EPS of $4.25. He said margin held at 21.7% in the quarter, while year-to-date EBITDA margin was flat at 21.4% because higher reimbursable costs were offset mainly by lower employee-related costs. He also pointed to $162 million of operating cash flow, negative 59.6 days sales outstanding, $502.7 million of cash, and $527 million remaining on the share repurchase authorization. On guidance, he noted full-year revenue, EBITDA, net income, and EPS ranges were all raised and that the model assumes 41% to 42% of revenue for direct service costs in Q3 and Q4, with some further decline in reimbursable costs expected in the back half.","qanda":"Analysts focused on whether metabolic work and larger customers were driving the strong bookings and whether backlog conversion rates would normalize. Management said the top 5 customer growth was driven by metabolic work, but emphasized that oncology now dominates bookings and award notifications, while the higher backlog burn rate was not mainly a metabolic effect; instead, they cited policy gating on interim decision points, changes in the average age of projects, and the mix of programs entering backlog. Analysts also pressed on cancellations, with management saying Q2 cancellations fell to a very good range and helped net bookings, though they remain hard to predict. Questions on funding, China, and phase mix drew a response that the funding environment has improved broadly, Phase 1 has increased relative to Phase 2, Phase 3 has been stable, and management does not see a major shift of work to China." ,"bull":"The call showed strong demand momentum: record net bookings, a 1.13x book-to-bill, growing backlog, and RFPs that were up meaningfully both sequentially and year over year. Management sounded more constructive on oncology, funding availability, and the second half, while also saying cancellations improved materially from the prior quarter. The raised full-year guidance and ongoing share repurchases reinforce that management sees the current environment as supportive." ,"bear":"Management repeatedly warned that cancellations are unpredictable and can swing results quarter to quarter, so the improved Q2 level may not be durable. The company also said the high backlog conversion rate should moderate over time as the mix of programs and average project age normalizes, which could temper growth rates. In addition, the recent strength has been helped by a mix shift away from cardiometabolic work toward oncology, and management does not expect the current mix to persist indefinitely."}】
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 80.5%
- Shares Outstanding
- 27.91M
- Float Shares
- 22.48M
of shares held by institutions
738 13F filers
Buy/sell ratio 3.17. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for MEDP, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| David TaylorHouse · OH02 | Buy | May 15, 26 | Filing → |
| David TaylorHouse · OH02 | Buy | May 15, 26 | Filing → |
| David TaylorHouse · OH02 | Buy | May 15, 26 | Filing → |
| David TaylorHouse · OH02 | Buy | Feb 26, 26 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Jan 15, 26 | Filing → |
| David TaylorHouse · OH02 | Sell | Jan 16, 26 | Filing → |
| David TaylorHouse · OH02 | Buy | Jan 29, 26 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Oct 9, 25 | Filing → |
| Lisa McClainHouse · MI09 | Sell | Aug 4, 25 | Filing → |
| David TaylorHouse · OH02 | Sell | Jul 23, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Jul 24, 25 | Filing → |
| Lisa McClainHouse · MI09 | Buy | Jul 22, 25 | Filing → |
| Josh GottheimerHouse · NJ05 | Sell | Jul 26, 24 | Filing → |
| Josh GottheimerHouse · NJ05 | Sell | Jun 21, 24 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 2.47M | ▲ 57.82K |
| Vanguard Group Inc | 2.26M | ▼ 21.12K |
| Aqr Capital Management LLC | 1.35M | ▲ 4.13K |
| Geode Capital Management, LLC | 745.11K | ▲ 77.81K |
| State Street Corp | 682.23K | ▲ 17.34K |
| Wasatch Advisors LP | 636.60K | ▼ 137.34K |
| Invesco Ltd. | 577.57K | ▲ 94.95K |
| Renaissance Technologies LLC | 504.67K | ▲ 38.76K |
| Baillie Gifford & Co | 503.19K | ▼ 43.89K |
| Mawer Investment Management Ltd. | 446.10K | ▲ 38.80K |
| D. E. Shaw & Co., Inc. | 432.60K | ▼ 95.63K |
| Arrowstreet Capital, Limited Partnership | 395.77K | ▲ 20.74K |
Held by 504 ETFs
Biggest fund positions in MEDP by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 30, 26 | McCarthy Cornelius P. III | other | 28 |
| Jun 30, 26 | McCarthy Cornelius P. III | other | 28 |
| Jun 30, 26 | Carley Brian T | other | 36 |
| Jun 30, 26 | Carley Brian T | other | 36 |
| Jun 1, 26 | Hansman Brad W. | other | 0 |
| Jun 1, 26 | Hansman Brad W. | other | 5,000 |
| Jun 1, 26 | Hansman Brad W. | other | 10,000 |
| May 28, 26 | EWALD STEPHEN P | other | 16,349 |
| May 28, 26 | EWALD STEPHEN P | sell | 16,349 |
| May 28, 26 | EWALD STEPHEN P | other | 16,349 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our MEDP coverage
Recent articles, reports, and earnings notes.
Medpace Holdings (MEDP): Growth Quality vs. Booking Risk
Medpace is still delivering strong revenue, margin, and cash flow growth, but softer bookings and a rich valuation keep the stock in Hold territory. The business quality is high, yet the current setup looks better on pullbacks than at full price.
Medpace Holdings, Inc. (MEDP) jumps 18% on Q2 beat
Medpace Holdings, Inc. (MEDP) jumps after-hours after posting a strong Q2 2026 earnings beat, higher revenue, and improved bookings. The CRO also raised full-year revenue guidance, signaling healthy demand and reinforcing its premium growth profile.
Medpace Holdings, Inc. (MEDP) slumps 17% on bookings miss
Medpace Holdings, Inc. (MEDP) slumps after hours despite a strong first quarter, as investors focus on weaker bookings and a sub-1.0x book-to-bill ratio. The company beat on revenue and earnings, but concerns about future demand and backlog growth drove the sharp selloff.
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Dimensional Fund Advisors LP Sells 10,865 Shares of Medpace Holdings, Inc. $MEDP
defenseworld.net · Jul 26
Medpace: Cancellations Are Normalizing
seekingalpha.com · Jul 25
Arrowstreet Capital Limited Partnership Raises Stock Position in Medpace Holdings, Inc. $MEDP
defenseworld.net · Jul 25
Medpace Holdings, Inc. (MEDP) Hit a 52 Week High, Can the Run Continue?
zacks.com · Jul 24
Medpace Soars After Q2 Beat, Strong Backlog Fuels Higher 2026 Outlook
benzinga.com · Jul 23
Medpace: 'Buy' On Financial Metric Improvements And Solid Q2 2026 Earnings
seekingalpha.com · Jul 23
Medpace Holdings, Inc. (MEDP) Q2 2026 Earnings Call Transcript
seekingalpha.com · Jul 23
Medpace Q2 Earnings Call Highlights
marketbeat.com · Jul 23
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
Bullish or bearish?
Where do you stand on MEDP?
AI analysis · Last refreshed July 23, 2026 · Live quote · Not investment advice