Medpace (NASDAQ:MEDP) Price Target Raised to $454.00

Medpace (NASDAQ:MEDP) had its price target lifted by Robert W. Baird from $446.00 to $454.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. StockNews.com raised Medpace from a hold rating to a buy rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Medpace in a report on Monday, March 18th. They issued a hold rating and a $395.00 price objective for the company. UBS Group upgraded Medpace from a neutral rating to a buy rating and upped their price objective for the company from $282.00 to $452.00 in a report on Thursday, February 15th. Finally, Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and upped their price objective for the company from $340.00 to $450.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $443.00.

Medpace Stock Performance

NASDAQ:MEDP opened at $395.93 on Wednesday. Medpace has a 1 year low of $189.30 and a 1 year high of $421.00. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 1.94 and a beta of 1.38. The business has a fifty day moving average of $397.83 and a 200-day moving average of $325.15.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.75. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The company had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter in the prior year, the business posted $2.27 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts predict that Medpace will post 11.23 EPS for the current year.

Insider Activity

In other news, major shareholder Medpace Investors, Llc sold 50,000 shares of the company’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 completion of the sale, the insider now directly owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the sale, the insider now directly owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock valued at $76,651,647 over the last three months. Insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Medpace by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after acquiring an additional 148 shares in the last quarter. Portside Wealth Group LLC lifted its stake in Medpace by 14.8% in the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after acquiring an additional 183 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Medpace by 355.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after acquiring an additional 2,774 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Medpace in the 4th quarter worth about $1,992,000. Finally, Chase Investment Counsel Corp lifted its stake in Medpace by 3.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock worth $2,384,000 after acquiring an additional 301 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Company Profile

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.