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Medpace Holdings Inc

Medpace Holdings Inc

MEDP
$593.39USD↑+0.06%+0.37 today

MARKET CAP

16.6B

P/E (TTM)

37.4x

FWD P/E

—

DAY RANGE

$587 – $599

52W RANGE

$373
$678

AI Summary

Stalk
StalkMedium

The primary Bullish Exhaustion pattern from mid-August signals waning upside momentum, and price is now pulling back into the 9/20 EMAs with volume fading and RSI moderating. The broader trend remains intact above the rising 50-day SMA, but execution should be deferred until support in the EMAs or near the 50-day MA is confirmed. Stalk for a stabilizing pullback into these zones before engaging in a medium-term bullish bias.

  • ↑Q4 2025 revenue $708.5 M, +32% YoY
  • ↑Q4 net new awards +39.1% YoY; book-to-bill ratio 1.04
  • ↓Q4 cancellations remained high; net book-to-bill at 1.04 risks momentum
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

Medpace Holdings, Inc. (NASDAQ: MEDP) is a leading full-service contract research organization (CRO) providing comprehensive clinical development services to the pharmaceutical and biotechnology sectors. Medpace specializes in managing clinical trials from inception to completion, particularly focusing on high-growth therapeutic areas such as oncology and cardiovascular products, while maintaining a strong portfolio in metabolic diseases. As a dominant player in the CRO market, Medpace is poised to capitalize on the increasing demand for clinical trial management services driven by innovation in drug development.

Bull says

  • ↑Q4 2025 revenue $708.5 M, +32% YoY
  • ↑Q4 net new awards +39.1% YoY; book-to-bill ratio 1.04
  • ↑Oncology and metabolic bookings >50% of total awards
  • ↑Cash balance $652.7 M; $912.9 M in 2025 share buybacks
  • ↑Analysts forecast ~14.6% EPS growth this fiscal year
  • ↑High earnings yield and strong growth profile support valuation

Bear says

  • ↓Q4 cancellations remained high; net book-to-bill at 1.04 risks momentum
  • ↓Top five customers contribute ~31% of revenues, heightening concentration risk
  • ↓Pass-through costs represent 41–42% of revenue, pressuring margins
  • ↓Valuation may be ~29% above fair value, limiting upside
  • ↓Larger CRO competitors intensify pressure, potentially lowering win rates
  • ↓Negative dividend yield and low institutional interest could deter buyers

Investment themes with MEDP

Buybacks↑ +0.48%

Companies repurchasing their own shares

C · JCI · WFC

Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-11-2026neutral

Transcript signals

Bull points

  • I think the big step up from our expectation was less cancellations than we anticipated.
  • Total pending RFP dollars were down on the quarter and our award notifications were strong.
  • Cancellations were down across the pipeline and awards recognized in the backlog were the highest in the past five quarters with a book to bill of 1.03 in the second quarter of 2025.

Bear points

  • It's been declining the last few quarters, reflecting our shift towards faster burn rates and more near-term projects.
  • cancellations, not new projects and baseline level of business. Certainly the last nine months.
  • could things pull back again and really impact 2026? Sure. That's quite possible.
Read full transcript analysis ›