Medpace (NASDAQ:MEDP) PT Raised to $464.00 at Guggenheim

Medpace (NASDAQ:MEDP) had its price target lifted by Guggenheim from $453.00 to $464.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

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

Medpace Price Performance

Shares of NASDAQ MEDP opened at $395.93 on Wednesday. The stock has a market capitalization of $12.27 billion, a P/E ratio of 40.36, a P/E/G ratio of 1.94 and a beta of 1.38. Medpace has a 1 year low of $189.30 and a 1 year high of $421.00. The company’s 50-day moving average is $397.83 and its 200 day moving average is $325.15.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. During the same quarter last year, the firm earned $2.27 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Research analysts anticipate that Medpace will post 11.23 earnings per share for the current year.

Insider Buying and Selling

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 value of $19,587,500.00. Following the sale, the insider now owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO August J. Troendle sold 100,000 shares of Medpace 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 transaction, the chief executive officer now owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction on 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 transaction, the insider now owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MEDP. Wellington Management Group LLP boosted its stake in shares of Medpace by 312.6% during the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after acquiring an additional 319,210 shares during the last quarter. TD Asset Management Inc raised its position in shares of Medpace by 195.2% during the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares during the period. Invesco Ltd. raised its position in shares of Medpace by 67.6% during the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after purchasing an additional 246,775 shares during the period. Norges Bank bought a new stake in shares of Medpace during the 4th quarter valued at $59,163,000. Finally, Epoch Investment Partners Inc. raised its position in shares of Medpace by 82.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after purchasing an additional 159,144 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.