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

Medpace Holdings, Inc. (NASDAQ:MEDP)’s share price hit a new 52-week high on Wednesday after Robert W. Baird raised their price target on the stock from $446.00 to $454.00. Robert W. Baird currently has an outperform rating on the stock. Medpace traded as high as $421.00 and last traded at $415.94, with a volume of 65400 shares traded. The stock had previously closed at $407.15.

Several other equities analysts have also weighed in on the company. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and lifted their price target for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 target price on the stock. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and lifted their target price for the company from $340.00 to $450.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Moderate Buy” and an average price target of $404.80.

Insider Activity

In other Medpace 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 value of $19,587,500.00. Following the completion of the transaction, the insider now owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the sale, the insider now owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. 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 company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 in the last quarter. Insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. RiverPark Advisors LLC purchased a new position in Medpace in the fourth quarter worth $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Medpace during the 4th quarter worth $26,000. Rise Advisors LLC purchased a new position in shares of Medpace in the 1st quarter valued at about $27,000. Mather Group LLC. purchased a new position in shares of Medpace in the 1st quarter valued at about $28,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of Medpace in the third quarter valued at about $30,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Up 1.5 %

The business’s fifty day moving average is $397.68 and its 200 day moving average is $323.14. The stock has a market cap of $12.80 billion, a PE ratio of 41.50, a P/E/G ratio of 1.99 and a beta of 1.38.

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