Medpace (NASDAQ:MEDP) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Medpace (NASDAQ:MEDP) in a research report report published on Thursday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $415.00 price target on the stock.

Several other brokerages have also weighed in on MEDP. Robert W. Baird decreased their price objective on Medpace from $469.00 to $430.00 and set an outperform rating for the company in a report on Wednesday, July 24th. StockNews.com raised Medpace from a hold rating to a buy rating in a report on Thursday. William Blair reiterated an outperform rating on shares of Medpace in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Medpace from $395.00 to $336.00 and set a hold rating for the company in a research report on Wednesday, July 24th. Finally, Mizuho started coverage on Medpace in a research report on Tuesday, May 28th. They set a buy rating and a $435.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Medpace has an average rating of Moderate Buy and an average price target of $423.00.

Medpace Stock Performance

Shares of Medpace stock traded down $17.40 during trading on Thursday, reaching $359.60. 21,323 shares of the company’s stock were exchanged, compared to its average volume of 244,239. Medpace has a 1-year low of $227.21 and a 1-year high of $459.77. The company has a market cap of $11.15 billion, a P/E ratio of 38.43, a PEG ratio of 2.00 and a beta of 1.36. The firm’s 50-day moving average price is $403.18 and its 200 day moving average price is $386.80.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period in the previous year, the firm earned $1.93 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts predict that Medpace will post 11.66 EPS for the current year.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The sale 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 4,782 shares of the 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 completion of the transaction, the chief executive officer now owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ashley M. Keating 1,300 shares of Medpace stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold a total of 14,519 shares of company stock worth $5,765,631 in the last 90 days. Company insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

A number of institutional investors have recently made changes to their positions in MEDP. Vanguard Group Inc. grew its stake in shares of Medpace by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after acquiring an additional 142,591 shares during the period. Riverbridge Partners LLC grew its holdings in Medpace by 7.1% during the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after buying an additional 43,197 shares in the last quarter. TD Asset Management Inc raised its position in shares of Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after buying an additional 107,108 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Medpace by 15.3% during the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after buying an additional 53,983 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after buying an additional 6,137 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.