Medpace (NASDAQ:MEDP) Rating Increased 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 released on Thursday morning.

Other analysts have also recently issued research reports about the stock. Mizuho started coverage on shares of Medpace in a research note on Tuesday, May 28th. They issued a buy rating and a $435.00 price target for the company. Guggenheim upped their target price on shares of Medpace from $453.00 to $464.00 and gave the company a buy rating in a report on Wednesday, April 24th. TD Cowen initiated coverage on Medpace in a report on Wednesday, May 29th. They set a buy rating and a $452.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a research note on Monday, March 18th. They issued a hold rating and a $395.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on Medpace from $456.00 to $469.00 and gave the stock an outperform rating in a report on Monday, July 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $445.29.

Medpace Stock Performance

Shares of Medpace stock opened at $443.00 on Thursday. Medpace has a 52-week low of $227.21 and a 52-week high of $444.87. The business’s 50 day simple moving average is $401.07 and its 200 day simple moving average is $375.56. The firm has a market cap of $13.73 billion, a PE ratio of 45.16, a P/E/G ratio of 2.19 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly 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 firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.27 earnings per share. As a group, equities research analysts predict that Medpace will post 11.29 EPS for the current year.

Insider Activity at Medpace

In other Medpace news, CEO August J. Troendle sold 4,782 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the transaction, the chief executive officer now owns 716,197 shares in the company, valued at approximately $286,894,194.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Medpace news, CEO August J. Troendle sold 15,102 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the sale, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the completion of the transaction, the chief executive officer now directly owns 716,197 shares in the company, valued at $286,894,194.26. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock worth $11,816,852 in the last ninety days. 20.30% of the stock is owned by company insiders.

Institutional Trading of Medpace

Several large investors have recently made changes to their positions in MEDP. American Century Companies Inc. boosted its holdings in shares of Medpace by 35.4% in the 3rd quarter. American Century Companies Inc. now owns 52,758 shares of the company’s stock valued at $12,774,000 after purchasing an additional 13,806 shares in the last quarter. 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 buying an additional 319,210 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Medpace by 88.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 8,664 shares of the company’s stock valued at $2,098,000 after acquiring an additional 4,077 shares during the last quarter. Baron Wealth Management LLC bought a new position in Medpace in the fourth quarter valued at about $366,000. Finally, FCF Advisors LLC raised its stake in Medpace by 79.9% during the fourth quarter. FCF Advisors LLC now owns 9,805 shares of the company’s stock worth $3,006,000 after acquiring an additional 4,356 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.