Medpace (NASDAQ:MEDP) Receives “Outperform” Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Medpace (NASDAQ:MEDP) in a research note released on Tuesday, Benzinga reports. William Blair also issued estimates for Medpace’s Q3 2024 earnings at $2.74 EPS, Q4 2024 earnings at $2.86 EPS, FY2024 earnings at $11.55 EPS, Q1 2025 earnings at $3.20 EPS, Q2 2025 earnings at $3.30 EPS, Q3 2025 earnings at $3.23 EPS, Q4 2025 earnings at $3.40 EPS and FY2025 earnings at $13.14 EPS.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and raised their price target for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a report on Tuesday. TD Cowen initiated coverage on shares of Medpace in a report on Wednesday, May 29th. They issued a buy rating and a $452.00 price target for the company. Guggenheim raised their price target on shares of Medpace from $453.00 to $464.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Finally, Robert W. Baird raised their price target on shares of Medpace from $456.00 to $469.00 and gave the stock an outperform rating in a report on Monday, July 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $424.14.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $381.47 on Tuesday. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 1.84 and a beta of 1.36. The firm has a 50 day simple moving average of $404.32 and a 200 day simple moving average of $382.18. Medpace has a one year low of $227.21 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 EPS. As a group, analysts expect that Medpace will post 11.59 EPS for the current year.

Insider Activity

In related news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the completion of the transaction, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Medpace news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the completion of the transaction, the chief executive officer now owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 3,987 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the completion of the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The disclosure for this sale can be found here. Insiders have sold a total of 29,621 shares of company stock valued at $11,816,852 over the last quarter. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MEDP. Vanguard Group Inc. grew its position in shares of Medpace by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after buying an additional 142,591 shares during the period. Riverbridge Partners LLC grew its position in Medpace by 7.1% during the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after purchasing an additional 43,197 shares during the last quarter. TD Asset Management Inc grew its position in Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after purchasing an additional 107,108 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Medpace by 15.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after purchasing an additional 53,983 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Medpace by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after purchasing an additional 6,137 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

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.