Medpace (NASDAQ:MEDP) Lifted 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 published on Thursday.

Several other research analysts have also recently weighed in on MEDP. Mizuho assumed coverage on shares of Medpace in a report on Tuesday, May 28th. They set a buy rating and a $435.00 price objective for the company. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and raised their price target for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Guggenheim upped their price objective on Medpace from $453.00 to $464.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Robert W. Baird raised their target price on Medpace from $456.00 to $469.00 and gave the stock an outperform rating in a research report on Monday, July 8th. Finally, 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 price target for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $445.29.

Medpace Stock Performance

NASDAQ:MEDP opened at $443.00 on Thursday. The firm has a market cap of $13.72 billion, a P/E ratio of 45.16, a P/E/G ratio of 2.15 and a beta of 1.36. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $444.87. The firm has a 50-day simple moving average of $401.07 and a two-hundred day simple moving average of $375.12.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. During the same period in the previous year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts predict that Medpace will post 11.29 EPS for the current year.

Insider Buying and Selling at Medpace

In other news, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO August J. Troendle sold 4,782 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was 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 owns 791,541 shares in the company, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,621 shares of company stock valued at $11,816,852. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MEDP. Vanguard Group Inc. raised its holdings in Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after acquiring an additional 142,591 shares during the period. Riverbridge Partners LLC raised its stake in Medpace by 7.1% during the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after purchasing an additional 43,197 shares during the period. TD Asset Management Inc lifted its holdings in Medpace by 22.9% in the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after purchasing an additional 107,108 shares in the last quarter. Wellington Management Group LLP boosted its stake in Medpace by 312.6% in the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after purchasing an additional 319,210 shares during the period. Finally, Epoch Investment Partners Inc. grew its holdings in Medpace by 15.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after buying an additional 53,983 shares in the last quarter. Hedge funds and other 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.