Medpace (NASDAQ:MEDP) Upgraded 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 issued to investors on Tuesday.

Several other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research note on Monday, March 18th. They issued a hold rating and a $395.00 price target for the company. Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and boosted their price target for the stock from $340.00 to $450.00 in a research note on Tuesday. Robert W. Baird boosted their price target on shares of Medpace from $312.00 to $408.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Finally, UBS Group upgraded shares of Medpace from a neutral rating to a buy rating and boosted their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $443.00.

Medpace Stock Up 1.6 %

Shares of NASDAQ MEDP opened at $395.93 on Tuesday. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 1.94 and a beta of 1.38. Medpace has a 52-week low of $189.30 and a 52-week high of $421.00. The business’s 50 day moving average is $397.83 and its two-hundred day moving average is $325.15.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping the consensus estimate of $2.45 by $0.75. The business had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 earnings per share. Analysts anticipate that Medpace will post 11.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Medpace Investors, Llc sold 13,988 shares of the business’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 transaction, the insider now owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Medpace news, 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 value of $5,404,823.32. Following the completion of the transaction, the insider now owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $41,106.00. Following the completion of the transaction, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,340 shares of company stock worth $76,651,647. Corporate insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

Several large investors have recently bought and sold shares of MEDP. Wellington Management Group LLP boosted its stake in Medpace by 312.6% in the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after acquiring an additional 319,210 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after buying an additional 308,816 shares during the last quarter. Invesco Ltd. raised 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 last quarter. Norges Bank purchased a new stake in shares of Medpace in the fourth quarter valued at about $59,163,000. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Medpace by 82.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after buying an additional 159,144 shares during the last quarter. 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.