Medpace (NASDAQ:MEDP) Price Target Raised to $464.00 at Guggenheim

Medpace (NASDAQ:MEDP) had its target price lifted by equities researchers at Guggenheim from $453.00 to $464.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 19.04% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Robert W. Baird boosted their price objective on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and boosted their price objective for the company from $340.00 to $450.00 in a research report on Tuesday. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective for the company. Finally, StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $443.00.

Medpace Trading Down 2.0 %

Shares of NASDAQ:MEDP opened at $389.77 on Wednesday. Medpace has a 12-month low of $189.30 and a 12-month high of $421.00. The company has a market capitalization of $12.08 billion, a PE ratio of 39.73, a PEG ratio of 2.04 and a beta of 1.38. The business has a 50 day moving average of $397.75 and a two-hundred day moving average of $324.12.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. Medpace’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.27 earnings per share. Equities research analysts predict that Medpace will post 11.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the sale, the director now directly owns 250 shares in the company, valued at $102,467.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the transaction, the insider now owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the transaction, the director now directly owns 250 shares in the company, valued at approximately $102,467.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medpace

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Medpace by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after buying an additional 148 shares during the last quarter. Portside Wealth Group LLC boosted its stake in Medpace by 14.8% during the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after buying an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Medpace by 355.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after buying an additional 2,774 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Medpace during the fourth quarter worth $1,992,000. Finally, Chase Investment Counsel Corp lifted its stake in shares of Medpace by 3.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after purchasing an additional 301 shares during 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.