Medpace (NASDAQ:MEDP) Rating Increased 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 Tuesday.

Other equities research analysts also recently issued research reports about the stock. UBS Group raised shares of Medpace from a neutral rating to a buy rating and raised their price target for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Robert W. Baird increased their price objective on shares of Medpace from $312.00 to $408.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a report on Monday, March 18th. They issued a hold rating and a $395.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and lifted their price target for the company from $340.00 to $450.00 in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Medpace has a consensus rating of Moderate Buy and an average target price of $395.60.

Medpace Stock Performance

NASDAQ:MEDP opened at $407.15 on Tuesday. The firm has a market cap of $12.61 billion, a PE ratio of 45.85, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. Medpace has a fifty-two week low of $187.03 and a fifty-two week high of $419.42. The business has a 50 day moving average price of $397.68 and a 200-day moving average price of $323.14.

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 the consensus estimate of $2.45 by $0.75. The company had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a net margin of 15.00% and a return on equity of 63.98%. Medpace’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.27 earnings per share. Research analysts predict that Medpace will post 10.53 EPS for the current year.

Insider Buying and Selling at Medpace

In other Medpace news, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ashley M. Keating sold 250 shares of Medpace stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the sale, the director now directly owns 250 shares of the company’s stock, valued at approximately $102,467.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,340 shares of company stock valued at $76,651,647. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in shares of Medpace by 3.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the company’s stock valued at $2,708,000 after buying an additional 200 shares in the last quarter. Origin Asset Management LLP purchased a new stake in Medpace in the 1st quarter valued at $206,000. Nations Financial Group Inc. IA ADV grew its holdings in shares of Medpace by 11.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 1,802 shares of the company’s stock valued at $728,000 after purchasing an additional 184 shares during the period. Duncker Streett & Co. Inc. purchased a new stake in shares of Medpace in the 1st quarter valued at approximately $130,000. Finally, Arcadia Investment Management Corp MI grew its position in Medpace by 40.3% in the first quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

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.