Medpace Holdings, Inc. (NASDAQ:MEDP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been given an average rating of “Moderate Buy” by the four research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $382.00.

A number of research analysts have commented on the company. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Deutsche Bank Aktiengesellschaft started coverage on Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target for the company. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Robert W. Baird upped their target price on shares of Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the sale, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the transaction, the insider now directly owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock worth $76,651,647 in the last three months. 20.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Medpace

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Medpace by 312.6% in the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after purchasing an additional 319,210 shares during the last quarter. TD Asset Management Inc boosted its stake in Medpace by 195.2% during the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Wasatch Advisors Inc. increased its position in shares of Medpace by 12.1% during the 1st quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock valued at $446,338,000 after purchasing an additional 294,103 shares during the period. Invesco Ltd. lifted its holdings in shares of Medpace by 67.6% in the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after buying an additional 246,775 shares during the period. Finally, Millennium Management LLC lifted its holdings in Medpace by 102.3% in the 4th quarter. Millennium Management LLC now owns 450,938 shares of the company’s stock valued at $95,784,000 after acquiring an additional 228,001 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

MEDP opened at $374.32 on Friday. The company has a market cap of $11.60 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 2.03 and a beta of 1.38. Medpace has a 1 year low of $185.43 and a 1 year high of $419.42. The firm has a 50 day moving average price of $394.87 and a 200 day moving average price of $319.06.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, February 12th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.24. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The company had revenue of $498.40 million during the quarter, compared to analyst estimates of $498.72 million. During the same quarter in the prior year, the business earned $2.12 earnings per share. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, sell-side analysts predict that Medpace will post 10.53 earnings per share for the current year.

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.