Medpace (NASDAQ:MEDP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research report released on Tuesday morning.

MEDP has been the subject of a number of other reports. Robert W. Baird upped their price objective on shares of Medpace from $456.00 to $469.00 and gave the company an outperform rating in a research note on Monday, July 8th. Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and boosted their price target for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. TD Cowen initiated coverage on shares of Medpace in a research report on Wednesday, May 29th. They set a buy rating and a $452.00 price objective on the stock. Guggenheim increased their target price on Medpace from $453.00 to $464.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Mizuho started coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a buy rating and a $435.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $424.14.

Medpace Price Performance

NASDAQ MEDP opened at $381.47 on Tuesday. The company has a market capitalization of $11.83 billion, a P/E ratio of 38.89, a PEG ratio of 1.84 and a beta of 1.36. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77. The company’s 50 day simple moving average is $404.32 and its 200 day simple moving average is $382.18.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. The company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share. On average, analysts anticipate that Medpace will post 11.59 earnings per share for the current year.

Insider Transactions at Medpace

In related news, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction that occurred on 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 directly owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 sale, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO August J. Troendle sold 4,782 shares of Medpace 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 completion of the transaction, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,621 shares of company stock worth $11,816,852. 20.30% of the stock is owned by corporate insiders.

Institutional Trading of Medpace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEDP. Rise Advisors LLC bought a new stake in shares of Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. bought a new position in shares of Medpace during the 1st quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new position in Medpace in the 1st quarter valued at approximately $31,000. DT Investment Partners LLC bought a new stake in shares of Medpace in the 2nd quarter worth approximately $41,000. Finally, Arcadia Investment Management Corp MI grew its holdings in shares of Medpace by 40.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds 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.