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

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $443.14.

A number of equities research analysts recently commented on MEDP shares. Guggenheim increased their price objective on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. TD Cowen began coverage on shares of Medpace in a research report on Wednesday, May 29th. They set a “buy” rating and a $452.00 target price on the stock. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and upped their price objective for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Mizuho began coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. Finally, StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday, June 7th.

Insider Buying and Selling

In other news, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly owns 791,541 shares in the company, valued at approximately $317,162,563.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the transaction, the chief executive officer now directly owns 791,541 shares in the company, valued at approximately $317,162,563.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were 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 directly owns 660,351 shares in the company, valued at $260,983,922.22. The disclosure for this sale can be found here. Insiders sold a total of 29,621 shares of company stock worth $11,816,852 over the last ninety days. 20.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medpace

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of Medpace by 58.4% during the 2nd quarter. GAMMA Investing LLC now owns 236 shares of the company’s stock worth $97,000 after acquiring an additional 87 shares in the last quarter. American Trust purchased a new stake in shares of Medpace in the 1st quarter valued at approximately $234,000. DekaBank Deutsche Girozentrale boosted its position in shares of Medpace by 3.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 36,030 shares of the company’s stock worth $14,459,000 after purchasing an additional 1,173 shares during the period. Cetera Advisors LLC boosted its position in shares of Medpace by 162.4% during the 1st quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after purchasing an additional 1,614 shares during the period. Finally, Cetera Investment Advisers boosted its position in Medpace by 235.0% in the 1st quarter. Cetera Investment Advisers now owns 11,494 shares of the company’s stock valued at $4,645,000 after buying an additional 8,063 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Down 0.7 %

NASDAQ:MEDP opened at $404.42 on Wednesday. The firm has a 50 day moving average of $397.69 and a 200 day moving average of $369.55. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 41.23, a PEG ratio of 2.04 and a beta of 1.36. Medpace has a 52 week low of $227.21 and a 52 week high of $437.39.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results 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. The firm had revenue of $511.00 million for 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 revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $2.27 earnings per share. As a group, analysts expect that Medpace will post 11.29 EPS 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.