Medpace Holdings, Inc. (NASDAQ:MEDP) Receives Average Rating of “Moderate Buy” from Brokerages

Medpace Holdings, Inc. (NASDAQ:MEDP) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $424.14.

Several research analysts have recently commented on MEDP shares. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday. Guggenheim decreased their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird dropped their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and increased their target price for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Finally, TD Cowen dropped their price target on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note on Wednesday.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $400.69, for a total value of $6,051,220.38. Following the transaction, the chief executive officer now owns 791,541 shares in the company, valued at $317,162,563.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO August J. Troendle sold 15,102 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 4,782 shares of the stock in a transaction dated 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 sale, the chief executive officer now 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 have sold 29,621 shares of company stock valued at $11,816,852 in the last ninety days. Company insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

A number of hedge funds and other institutional investors have recently made changes to their positions in MEDP. Rise Advisors LLC purchased a new position in Medpace during the 1st quarter valued at $27,000. Mather Group LLC. purchased a new position in shares of Medpace during the first quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new position in Medpace in the first quarter worth about $31,000. DT Investment Partners LLC purchased a new stake in Medpace in the second quarter worth about $41,000. Finally, Arcadia Investment Management Corp MI boosted its position in Medpace by 40.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock valued at $41,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Down 0.4 %

Medpace stock opened at $380.50 on Friday. Medpace has a 1-year low of $227.21 and a 1-year high of $459.77. The firm has a market capitalization of $11.79 billion, a PE ratio of 38.79, a price-to-earnings-growth ratio of 1.76 and a beta of 1.36. The firm’s 50 day simple moving average is $404.55 and its 200 day simple moving average is $381.65.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 59.91%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 earnings per share. Research analysts forecast that Medpace will post 11.33 earnings per share for the current year.

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.