Medpace (NASDAQ:MEDP) PT Lowered to $336.00 at Deutsche Bank Aktiengesellschaft

Medpace (NASDAQ:MEDP) had its price objective cut by Deutsche Bank Aktiengesellschaft from $395.00 to $336.00 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a research note on Tuesday. Guggenheim dropped their target price on shares of Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research note on Wednesday. Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and boosted their target price for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Mizuho assumed coverage on shares of Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 price target on the stock. Finally, TD Cowen dropped their price target on shares of Medpace from $452.00 to $434.00 and set a buy rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $424.14.

Medpace Stock Performance

Medpace stock opened at $381.47 on Wednesday. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The stock has a market cap of $11.83 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.36. The firm’s 50-day simple moving average is $404.32 and its 200 day simple moving average is $382.18.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.93 earnings per share. As a group, analysts predict that Medpace will post 11.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 5,695 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the sale, the chief executive officer now owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO August J. Troendle sold 5,695 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO August J. Troendle sold 4,782 shares of the stock in a transaction on Wednesday, May 8th. The stock was 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 directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,621 shares of company stock valued at $11,816,852. Company insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

Institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new position in shares of Medpace during the 1st quarter valued at $27,000. Mather Group LLC. bought a new position in shares of Medpace during the 1st quarter valued at $28,000. Fidelis Capital Partners LLC bought a new position in shares of Medpace during the 1st quarter valued at $31,000. DT Investment Partners LLC bought a new position in shares of Medpace during the 2nd quarter valued at $41,000. Finally, Arcadia Investment Management Corp MI grew its holdings in shares of Medpace by 40.3% during the 1st 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 during the last quarter. Institutional investors own 77.98% of the company’s stock.

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.