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

Medpace (NASDAQ:MEDP) had its target price hoisted by Guggenheim from $453.00 to $464.00 in a research report report published on Wednesday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other research firms also recently weighed in on MEDP. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and lifted their price objective for the company from $340.00 to $450.00 in a report on Tuesday. Robert W. Baird upped their price objective on Medpace from $446.00 to $454.00 and gave the stock an outperform rating in a research report on Wednesday. UBS Group raised Medpace from a neutral rating to a buy rating and upped their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. StockNews.com raised Medpace from a hold rating to a buy rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a report on Monday, March 18th. They set a hold rating and a $395.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $443.00.

Medpace Stock Performance

MEDP stock opened at $397.56 on Wednesday. The firm has a fifty day moving average price of $397.84 and a 200 day moving average price of $323.66. Medpace has a fifty-two week low of $189.30 and a fifty-two week high of $421.00. The firm has a market cap of $12.32 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38.

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

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MEDP. RiverPark Advisors LLC purchased a new position in shares of Medpace in the 4th quarter valued at approximately $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Medpace in the 4th quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in shares of Medpace in the 1st quarter valued at approximately $27,000. Mather Group LLC. purchased a new position in shares of Medpace in the 1st quarter valued at approximately $28,000. Finally, FinTrust Capital Advisors LLC purchased a new position in shares of Medpace in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds 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.