Medpace (NASDAQ:MEDP) Upgraded at Zacks Research

Zacks Research upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Other analysts also recently issued research reports about the company. Barclays boosted their price target on Medpace from $425.00 to $485.00 and gave the company an “underweight” rating in a research note on Friday, October 24th. William Blair reiterated a “market perform” rating on shares of Medpace in a research report on Wednesday, July 23rd. Robert W. Baird set a $613.00 target price on Medpace in a report on Friday, October 24th. Jefferies Financial Group increased their target price on Medpace from $400.00 to $450.00 and gave the company a “hold” rating in a report on Tuesday, September 9th. Finally, Rothschild & Co Redburn cut Medpace from a “buy” rating to a “neutral” rating and increased their price target for the company from $342.00 to $474.00 in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Medpace presently has an average rating of “Hold” and an average target price of $475.90.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $584.57 on Monday. The business’s 50-day moving average is $510.55 and its 200 day moving average is $398.84. Medpace has a 1 year low of $250.05 and a 1 year high of $625.00. The firm has a market capitalization of $16.47 billion, a P/E ratio of 40.88, a P/E/G ratio of 2.66 and a beta of 1.40.

Medpace (NASDAQ:MEDP) last announced its earnings results on Wednesday, October 22nd. The company reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.36. The company had revenue of $659.90 million for the quarter, compared to analyst estimates of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.01 EPS. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. On average, analysts expect that Medpace will post 12.29 EPS for the current year.

Insider Transactions at Medpace

In related news, General Counsel Stephen P. Ewald sold 15,230 shares of Medpace stock in a transaction on Monday, October 27th. The shares were sold at an average price of $598.85, for a total value of $9,120,485.50. Following the transaction, the general counsel directly owned 13,343 shares in the company, valued at $7,990,455.55. This trade represents a 53.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO August J. Troendle sold 36,196 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $475.90, for a total transaction of $17,225,676.40. Following the sale, the chief executive officer owned 925,799 shares in the company, valued at $440,587,744.10. The trade was a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 88,736 shares of company stock worth $47,286,494 over the last quarter. 20.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Medpace

Institutional investors and hedge funds have recently made changes to their positions in the business. Quent Capital LLC purchased a new stake in shares of Medpace in the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Medpace by 64.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after acquiring an additional 37 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Medpace by 244.8% during the 1st quarter. Brooklyn Investment Group now owns 100 shares of the company’s stock worth $30,000 after acquiring an additional 71 shares during the period. Whittier Trust Co. increased its position in Medpace by 47.3% during the 1st quarter. Whittier Trust Co. now owns 109 shares of the company’s stock worth $33,000 after purchasing an additional 35 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in Medpace during the 2nd quarter worth approximately $36,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.