Medpace (NASDAQ:MEDP) Sets New 12-Month High Following Analyst Upgrade

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) hit a new 52-week high on Wednesday after Guggenheim raised their price target on the stock from $453.00 to $464.00. Guggenheim currently has a buy rating on the stock. Medpace traded as high as $421.00 and last traded at $415.94, with a volume of 65400 shares trading hands. The stock had previously closed at $407.15.

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

Insider Transactions at Medpace

In other news, 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 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 document filed with the SEC, which is available at the SEC website. In related news, CEO August J. Troendle sold 100,000 shares of Medpace stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ashley M. Keating sold 250 shares of Medpace stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total value of $102,467.50. Following the transaction, the director now owns 250 shares of the company’s stock, valued at $102,467.50. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock worth $76,651,647 over the last three months. 20.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. RiverPark Advisors LLC purchased a new stake in shares of Medpace in the fourth quarter valued at approximately $26,000. Contravisory Investment Management Inc. purchased a new stake in shares of Medpace in the fourth quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in shares of Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in shares of Medpace in the first quarter valued at approximately $28,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Medpace in the third quarter valued at approximately $30,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Down 2.4 %

The firm has a market capitalization of $12.32 billion, a PE ratio of 40.53, a PEG ratio of 1.99 and a beta of 1.38. The stock has a 50-day moving average price of $397.84 and a 200 day moving average price of $323.66.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a return on equity of 65.98% and a net margin of 15.92%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 earnings per share. As a group, equities analysts predict that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

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.