Medpace (NASDAQ:MEDP) Price Target Raised to $454.00

Medpace (NASDAQ:MEDP) had its target price upped by research analysts at Robert W. Baird from $446.00 to $454.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 11.51% from the stock’s previous close.

Several other brokerages have also recently commented on MEDP. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price for the company. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and boosted their target price for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. 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 report on Tuesday. Finally, StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $404.80.

Medpace Stock Up 8.2 %

Shares of Medpace stock opened at $407.15 on Wednesday. Medpace has a twelve month low of $187.03 and a twelve month high of $419.42. The company has a 50-day simple moving average of $397.68 and a two-hundred day simple moving average of $323.14. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 41.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter in the previous year, the company earned $2.27 EPS. The business’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that Medpace will post 10.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medpace news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Susan E. Burwig sold 102 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the completion of the sale, the insider now directly owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 in the last ninety days. 20.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MEDP. CWM LLC boosted its stake in Medpace by 554.3% during the third quarter. CWM LLC now owns 1,518 shares of the company’s stock worth $368,000 after acquiring an additional 1,286 shares in the last quarter. IFP Advisors Inc raised its holdings in Medpace by 144.3% during the third quarter. IFP Advisors Inc now owns 171 shares of the company’s stock worth $41,000 after buying an additional 101 shares during the last quarter. SG Americas Securities LLC raised its holdings in Medpace by 353.2% during the third quarter. SG Americas Securities LLC now owns 2,515 shares of the company’s stock worth $609,000 after buying an additional 1,960 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in Medpace during the third quarter worth $105,000. Finally, Commonwealth Equity Services LLC raised its holdings in Medpace by 20.2% during the third quarter. Commonwealth Equity Services LLC now owns 2,765 shares of the company’s stock worth $669,000 after buying an additional 465 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

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.