Medpace (NASDAQ:MEDP) Price Target Cut to $434.00

Medpace (NASDAQ:MEDP) had its price objective dropped by equities research analysts at TD Cowen from $452.00 to $434.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target suggests a potential upside of 14.06% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird raised their target price on Medpace from $456.00 to $469.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Guggenheim decreased their target price on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday. Mizuho started coverage on Medpace in a research note on Tuesday, May 28th. They set a “buy” rating and a $435.00 price target for the company. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, William Blair reiterated an “outperform” rating on shares of Medpace in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Medpace has an average rating of “Moderate Buy” and an average target price of $424.14.

Medpace Trading Down 0.4 %

NASDAQ MEDP opened at $380.50 on Wednesday. The firm has a market capitalization of $11.79 billion, a P/E ratio of 38.79, a PEG ratio of 1.76 and a beta of 1.36. The business has a fifty day simple moving average of $404.55 and a 200 day simple moving average of $381.65. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 59.91% and a net margin of 16.74%. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same period in the prior year, the firm posted $1.93 EPS. Medpace’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, sell-side analysts predict that Medpace will post 11.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Medpace news, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the transaction, the chief executive officer now owns 660,351 shares in the company, valued at approximately $260,983,922.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the transaction, the chief executive officer now owns 660,351 shares in the company, valued at approximately $260,983,922.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 5,695 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The disclosure for this sale can be found here. Insiders sold a total of 29,621 shares of company stock worth $11,816,852 in the last quarter. 20.30% of the stock is owned by company insiders.

Institutional Trading of Medpace

A number of large investors have recently modified their holdings of MEDP. Raymond James Trust N.A. bought a new stake in shares of Medpace during the 4th quarter valued at about $203,000. SG Americas Securities LLC boosted its position in shares of Medpace by 32.1% during the 4th quarter. SG Americas Securities LLC now owns 3,323 shares of the company’s stock valued at $1,019,000 after acquiring an additional 808 shares during the last quarter. Raymond James & Associates boosted its position in shares of Medpace by 15.1% during the 4th quarter. Raymond James & Associates now owns 47,009 shares of the company’s stock valued at $14,410,000 after acquiring an additional 6,177 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Medpace during the 4th quarter valued at about $322,000. Finally, Procyon Advisors LLC boosted its position in shares of Medpace by 11.8% during the 4th quarter. Procyon Advisors LLC now owns 2,388 shares of the company’s stock valued at $732,000 after acquiring an additional 252 shares during the last quarter. Institutional investors 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.