Medpace (NASDAQ:MEDP) Shares Down 0.6%

Medpace Holdings, Inc. (NASDAQ:MEDP)’s stock price dropped 0.6% during mid-day trading on Tuesday . The company traded as low as $395.55 and last traded at $397.98. Approximately 30,243 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 248,001 shares. The stock had previously closed at $400.21.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MEDP shares. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and boosted their price objective for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. 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 report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price target on the stock. Finally, Guggenheim lifted their price objective on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $443.00.

Medpace Price Performance

The firm has a market capitalization of $12.03 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. The firm has a fifty day simple moving average of $398.00 and a two-hundred day simple moving average of $327.40.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data 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 firm 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 59.74%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 EPS. On average, research analysts anticipate that Medpace Holdings, Inc. will post 11.23 EPS for the current year.

Insider Buying and Selling at Medpace

In other news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was 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 owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Medpace news, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the sale, the director now owns 250 shares of the company’s stock, valued at $102,467.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO August J. Troendle sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,340 shares of company stock valued at $76,651,647. Company insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Medpace by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after acquiring an additional 148 shares during the period. Portside Wealth Group LLC lifted its position in Medpace by 14.8% during the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after buying an additional 183 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Medpace by 355.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after purchasing an additional 2,774 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Medpace in the 4th quarter valued at about $1,992,000. Finally, Chase Investment Counsel Corp increased its position in shares of Medpace by 3.2% in the third quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock worth $2,384,000 after acquiring an additional 301 shares in the last quarter. Institutional investors and hedge funds 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.