Medpace Holdings, Inc. (NASDAQ:MEDP) Given Average Rating of “Moderate Buy” by Brokerages

Medpace Holdings, Inc. (NASDAQ:MEDP) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $443.00.

A number of research firms have recently commented on MEDP. Guggenheim boosted their price objective on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target on the stock. Robert W. Baird lifted their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and lifted their price target for the stock from $340.00 to $450.00 in a research report on Tuesday, April 23rd.

Medpace Stock Up 2.1 %

Shares of MEDP opened at $400.74 on Tuesday. The firm has a market capitalization of $12.41 billion, a PE ratio of 40.85, a P/E/G ratio of 1.95 and a beta of 1.40. The firm has a 50-day moving average price of $398.03 and a 200 day moving average price of $332.98. Medpace has a 52-week low of $197.39 and a 52-week high of $421.00.

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 for 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%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business earned $2.27 earnings per share. On average, equities analysts expect that Medpace will post 11.23 EPS for the current year.

Insider Activity at Medpace

In other Medpace news, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 in the company, valued at $2,170,274,237.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ashley M. Keating sold 250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the transaction, the director now owns 250 shares in the company, valued at approximately $102,467.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,442 shares of company stock worth $82,702,867. 20.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently modified their holdings of MEDP. Vanguard Group Inc. raised its holdings in shares of Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after acquiring an additional 142,591 shares in the last quarter. Riverbridge Partners LLC lifted its holdings in shares of Medpace by 7.1% during the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after buying an additional 43,197 shares during the last quarter. Invesco Ltd. grew its stake in shares of Medpace by 67.6% in the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after buying an additional 246,775 shares in the last quarter. TD Asset Management Inc increased its holdings in Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after buying an additional 308,816 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Medpace by 312.6% during the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after acquiring an additional 319,210 shares in 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.