Medpace (NASDAQ:MEDP) PT Lowered to $434.00 at TD Cowen

Medpace (NASDAQ:MEDP) had its target price lowered by TD Cowen from $452.00 to $434.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

MEDP has been the topic of a number of other research reports. Robert W. Baird raised their target price on shares of Medpace from $456.00 to $469.00 and gave the company an outperform rating in a research report on Monday, July 8th. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a research report on Tuesday, July 23rd. Guggenheim cut their target price on shares of Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research report on Wednesday. Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and raised their target price for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Finally, Mizuho initiated coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a buy rating and a $435.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Medpace presently has an average rating of Moderate Buy and an average target price of $424.14.

Medpace Stock Up 0.3 %

Shares of NASDAQ:MEDP opened at $381.47 on Wednesday. The company’s 50 day moving average price is $404.32 and its two-hundred day moving average price is $382.76. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The firm has a market cap of $11.83 billion, a PE ratio of 38.89, a PEG ratio of 1.82 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.93 EPS. On average, research analysts expect that Medpace will post 11.69 EPS for the current year.

Insider Activity

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 shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the sale, the chief executive officer now owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the transaction, the chief executive officer now owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The disclosure for this sale can be found here. Insiders have sold a total of 29,621 shares of company stock valued at $11,816,852 over the last quarter. Company insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in Medpace during the 1st quarter valued at $27,000. Mather Group LLC. bought a new position in Medpace in the 1st quarter worth $28,000. Fidelis Capital Partners LLC bought a new position in Medpace in the 1st quarter worth $31,000. DT Investment Partners LLC bought a new position in Medpace in the 2nd quarter worth $41,000. Finally, Arcadia Investment Management Corp MI raised its holdings in Medpace by 40.3% in the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.