Medpace (NASDAQ:MEDP) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research note released on Thursday.

MEDP has been the topic of a number of other reports. Guggenheim decreased their price objective on shares of Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Medpace from $395.00 to $336.00 and set a hold rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and lifted their target price for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. William Blair reissued an outperform rating on shares of Medpace in a report on Tuesday, July 23rd. Finally, Robert W. Baird decreased their price target on shares of Medpace from $469.00 to $430.00 and set an outperform rating on the stock in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Medpace presently has an average rating of Moderate Buy and an average price target of $423.00.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $377.00 on Thursday. The business has a fifty day moving average price of $403.18 and a two-hundred day moving average price of $386.80. The stock has a market capitalization of $11.69 billion, a PE ratio of 38.43, a P/E/G ratio of 2.00 and a beta of 1.36. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly 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 the consensus estimate of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. Medpace’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 earnings per share. On average, equities analysts expect that Medpace will post 11.66 EPS for the current year.

Insider Activity at Medpace

In other news, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $395.22, for a total transaction 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 $260,983,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the sale, the chief executive officer now owns 660,351 shares in the company, valued at approximately $260,983,922.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ashley M. Keating 1,300 shares of Medpace stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Insiders sold a total of 14,519 shares of company stock worth $5,765,631 in the last quarter. 20.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in Medpace by 4.9% in the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after buying an additional 26 shares during the period. Arcadia Investment Management Corp MI lifted its stake in shares of Medpace by 40.3% in 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 period. Commonwealth Equity Services LLC lifted its stake in shares of Medpace by 0.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after purchasing an additional 32 shares during the period. Miller Howard Investments Inc. NY boosted its position in shares of Medpace by 1.3% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,075 shares of the company’s stock valued at $943,000 after purchasing an additional 39 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Medpace by 5.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds 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.