Medpace (NASDAQ:MEDP) Shares Down 3.4%

Medpace Holdings, Inc. (NASDAQ:MEDP)’s stock price fell 3.4% during trading on Thursday . The company traded as low as $379.22 and last traded at $384.22. 78,457 shares were traded during trading, a decline of 69% from the average session volume of 249,110 shares. The stock had previously closed at $397.56.

Analyst Ratings Changes

A number of brokerages have recently commented on MEDP. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and increased their price objective for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price objective for the company. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and increased their price objective for the company from $340.00 to $450.00 in a research report on Tuesday. Robert W. Baird increased their price objective on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Guggenheim increased their price objective on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $443.00.

Medpace Stock Performance

The firm’s 50 day simple moving average is $397.83 and its 200-day simple moving average is $325.15. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 1.94 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same period in the previous year, the business earned $2.27 EPS. The company’s revenue was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 11.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Medpace

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

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently modified their holdings of MEDP. Vanguard Group Inc. increased its position in Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after buying an additional 142,591 shares during the last quarter. Riverbridge Partners LLC increased its position in Medpace by 7.1% during the fourth quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock worth $199,975,000 after buying an additional 43,197 shares during the last quarter. Invesco Ltd. increased its position in Medpace by 67.6% during the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock worth $148,159,000 after buying an additional 246,775 shares during the last quarter. TD Asset Management Inc increased its position in Medpace by 195.2% during the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after buying an additional 308,816 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Medpace by 312.6% during the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after buying an additional 319,210 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

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.