Medpace (NASDAQ:MEDP) Coverage Initiated by Analysts at Truist Financial

Stock analysts at Truist Financial initiated coverage on shares of Medpace (NASDAQ:MEDP) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set a “hold” rating and a $415.00 price target on the stock. Truist Financial’s price objective points to a potential upside of 8.49% from the company’s current price.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Guggenheim reduced their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Thursday. TD Cowen reduced their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Robert W. Baird reduced their target price on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Medpace has an average rating of “Moderate Buy” and an average target price of $423.00.

Medpace Stock Up 1.1 %

Shares of NASDAQ MEDP opened at $382.52 on Thursday. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.36. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The company’s 50-day simple moving average is $403.56 and its 200-day simple moving average is $384.76.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. Medpace’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 earnings per share. Equities research analysts anticipate that Medpace will post 11.69 EPS for the current fiscal year.

Insider Activity

In other news, CEO August J. Troendle sold 3,987 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $260,983,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO August J. Troendle sold 3,987 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $260,983,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the completion of the sale, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,519 shares of company stock valued at $5,765,631. Company insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

Several large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in Medpace during the 2nd quarter worth approximately $329,000. Van ECK Associates Corp grew its holdings in Medpace by 29.0% during the 2nd quarter. Van ECK Associates Corp now owns 14,452 shares of the company’s stock worth $5,952,000 after acquiring an additional 3,251 shares in the last quarter. Duncker Streett & Co. Inc. grew its holdings in Medpace by 67.9% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 539 shares of the company’s stock worth $222,000 after acquiring an additional 218 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after acquiring an additional 32 shares in the last quarter. Finally, Legacy Advisors LLC grew its holdings in Medpace by 1.3% during the 2nd quarter. Legacy Advisors LLC now owns 4,747 shares of the company’s stock worth $1,955,000 after acquiring an additional 59 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

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.