Guggenheim Lowers Medpace (NASDAQ:MEDP) Price Target to $432.00

Medpace (NASDAQ:MEDP) had its price target lowered by stock analysts at Guggenheim from $464.00 to $432.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 13.53% from the company’s current price.

Several other analysts also recently issued reports on the stock. Mizuho started coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target for the company. TD Cowen initiated coverage on shares of Medpace in a report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Medpace in a research note on Tuesday. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird increased their price target on Medpace from $456.00 to $469.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $424.14.

Medpace Trading Down 0.4 %

MEDP opened at $380.50 on Wednesday. The company has a fifty day moving average price of $404.55 and a two-hundred day moving average price of $381.65. Medpace has a 1-year low of $227.21 and a 1-year high of $459.77. The company has a market cap of $11.79 billion, a P/E ratio of 38.79, a price-to-earnings-growth ratio of 1.76 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 59.91% and a net margin of 16.74%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 EPS. On average, research analysts forecast that Medpace will post 11.33 EPS for the current fiscal year.

Insider Buying and Selling at Medpace

In related news, CEO August J. Troendle sold 4,782 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the completion of the transaction, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total value of $1,915,573.56. Following the transaction, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO August J. Troendle sold 5,695 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the sale, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock worth $11,816,852 in the last quarter. 20.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medpace

Several institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in shares of Medpace during the 1st quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in Medpace during the 1st quarter valued at $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of Medpace during the first quarter worth $31,000. DT Investment Partners LLC bought a new position in shares of Medpace in the second quarter worth $41,000. Finally, Arcadia Investment Management Corp MI grew its position in shares of Medpace by 40.3% in the first quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 29 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.