Medpace (NASDAQ:MEDP) Rating Increased to Buy at Jefferies Financial Group

Medpace (NASDAQ:MEDP) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Briefing.com reports. The firm presently has a $450.00 price target on the stock, up from their previous price target of $340.00. Jefferies Financial Group’s target price would suggest a potential upside of 19.60% from the stock’s current price.

MEDP has been the subject of a number of other reports. Robert W. Baird lifted their target price 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. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 price objective on the stock. Finally, StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $395.60.

Medpace Trading Up 1.1 %

Shares of MEDP stock opened at $376.26 on Tuesday. Medpace has a 12-month low of $187.03 and a 12-month high of $419.42. The business’s fifty day simple moving average is $396.82 and its 200-day simple moving average is $322.00. The company has a market cap of $11.66 billion, a PE ratio of 42.37, a PEG ratio of 1.97 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, February 12th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.24. Medpace had a return on equity of 63.98% and a net margin of 15.00%. The firm had revenue of $498.40 million for the quarter, compared to the consensus estimate of $498.72 million. During the same period in the previous year, the business earned $2.12 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. On average, equities analysts forecast that Medpace will post 10.53 earnings per share for the current year.

Insider Activity at Medpace

In other Medpace 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the transaction, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $41,298,000.00. Following the sale, the chief executive officer now 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. Insiders sold 189,340 shares of company stock worth $76,651,647 over the last three months. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Miller Howard Investments Inc. NY increased its stake in shares of Medpace by 1.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,075 shares of the company’s stock valued at $943,000 after purchasing an additional 39 shares in the last quarter. Schulhoff & Co. Inc. raised its stake in shares of Medpace by 2.0% during the 3rd quarter. Schulhoff & Co. Inc. now owns 2,250 shares of the company’s stock worth $545,000 after buying an additional 45 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Medpace by 5.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 954 shares of the company’s stock valued at $292,000 after buying an additional 45 shares in the last quarter. GAMMA Investing LLC grew its stake in Medpace by 43.3% in the 1st quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock valued at $60,000 after acquiring an additional 45 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its holdings in Medpace by 0.4% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 11,095 shares of the company’s stock worth $3,401,000 after acquiring an additional 46 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.