Medpace (NASDAQ:MEDP) Reaches New 1-Year High at $439.50

Medpace Holdings, Inc. (NASDAQ:MEDP) reached a new 52-week high on Thursday . The company traded as high as $439.50 and last traded at $432.50, with a volume of 133231 shares. The stock had previously closed at $419.05.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Mizuho initiated coverage on Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. TD Cowen initiated coverage on Medpace in a research report on Wednesday, May 29th. They set a “buy” rating and a $452.00 price target for the company. Guggenheim boosted their price target on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird boosted their price objective on Medpace from $456.00 to $469.00 and gave the stock an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $445.29.

Medpace Stock Up 3.8 %

The company has a 50 day simple moving average of $399.18 and a 200-day simple moving average of $373.34. The stock has a market cap of $13.48 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 2.01 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating the consensus estimate of $2.45 by $0.75. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 earnings per share. On average, equities research analysts expect that Medpace Holdings, Inc. will post 11.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 4,782 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total value of $1,915,573.56. Following the completion of the transaction, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Medpace news, CEO August J. Troendle sold 5,695 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the completion of the transaction, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 4,782 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the transaction, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock valued at $11,816,852 in the last three months. 20.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medpace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEDP. Rise Advisors LLC acquired a new stake in shares of Medpace during the 1st quarter valued at $27,000. Mather Group LLC. acquired a new stake in shares of Medpace during the 1st quarter valued at $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Medpace during the 1st quarter valued at $31,000. Contravisory Investment Management Inc. acquired a new stake in shares of Medpace during the 4th quarter valued at $26,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Medpace during the 4th quarter valued at $26,000. 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.