Medpace Holdings is a clinical contract research organization and CDMO operating in Services‑Commercial Physical & Biological Research, positioned inside the Life Science Tools & CDMO theme. The company has a market capitalization near $17.4 billion and provides clinical development and related services to pharmaceutical and biotech sponsors.
Revenue has moved from $492.5 million in CY2023Q3 to $707.3 million in CY2026Q2, with positive year‑over‑year growth across the most recent quarters; CY2026Q1 showed a 26.5% YoY increase and CY2026Q2 recorded a 17.2% YoY gain. GAAP diluted EPS rose from $2.22 in CY2023Q3 to $4.25 in CY2026Q2, and quarterly EPS growth has cleared a 25% growth gate in multiple quarters. The company’s growth profile is consistent, though explicit flags show revenue and GAAP EPS are not accelerating.
Price action and ownership provide context for the business momentum. The stock closed at $624.20 on 2026-09-21, trading above the 50‑day average ($586.50) and the 200‑day average ($521.11), and is at its 52‑week high. Relative strength versus the S&P 500 is positive, with a 33.1% excess return over three months and 7.6% over 12 months. Institutional ownership is very high at 91.25% across 924 reporting institutions as of 2026-06-30; 60% of top holders increased positions and the average top‑holder position change was 0.58923. Technically, the stock is in Weinstein Stage 3 (topping) and entry readiness is a watch, not a verified fresh breakout.
Why now
The stock sits at its 52‑week high with strong short‑term relative strength (33.1% excess return over three months) while recent revenue reached roughly $707 million and GAAP diluted EPS exceeded $4, supported by heavy institutional sponsorship; that combination makes the current setup a timely one to monitor even though a verified breakout is absent.
The setup
Technically, last close $624.20 is above the 50‑day ($586.50) and 200‑day ($521.11) moving averages, EMA9 is $609.40 and EMA21 is $602.03; six of seven trend checks passed but the 150‑day average is not above the 200‑day average. The Weinsten stage is 3 (topping) and entry readiness is flagged as watch—actionable false—with the price 2.43% above the 9‑day EMA and 3.68% above the 21‑day EMA; 50‑day up/down volume ratio is 0.71, indicating more down‑day volume than up‑day volume.
Revenue trajectory
Full-year revenue with year-over-year growth. Solid bars are calendar-year actuals from SEC EDGAR filings (XBRL); dashed bars are analyst consensus via Yahoo Finance (12 analysts), which is published two fiscal years out.Earnings trajectory
Solid bars are quarterly GAAP diluted EPS from SEC EDGAR filings. Dashed bars are analyst consensus, which is typically adjusted (non-GAAP). The two are measured differently, so a step between the last actual and the first estimate usually reflects that change in basis rather than a change in the business.Analyst full-year EPS consensus (typically adjusted): FY'26E $17.70 (+16%) · FY'27E $19.31 (+9%) — 12 analysts
Risks
Growth could decelerate: revenue and GAAP EPS are not accelerating despite positive year‑over‑year gains. Technical risk is elevated, with a Stage 3 topping classification and no verified breakout, which raises the chance of a stalled advance or distribution. High institutional ownership (91.25%) can amplify share moves if large holders rotate out, and demand for CRO/CDMO services remains tied to biopharma R&D spending cycles.
Framework fit
CANSLIM
5/7- CCurrent quarterly GAAP EPS growth ≥ 25%+37%✓
- AAnnual GAAP EPS growth ≥ 25%+21%✕
- NNew highs — within 15% of 52-week high0%✓
- SSupply/demand — up-day volume leads0.71x✕
- LLeader — outperforming the S&P 500+19% 6m✓
- IInstitutional sponsorshipmodel score 8/10✓
- MMarket in a confirmed uptrendConfirmed uptrend✓
Minervini Trend Template
6/7Stage 2 confirmation checklist: price versus rising long-term moving averages and the 52-week range.
Weinstein Stage
Price is near or above the 30-week proxy, but the long average has stopped rising.