Medpace (NASDAQ:MEDP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research note published on Thursday.

MEDP has been the subject of several other research reports. Jefferies Financial Group raised Medpace from a hold rating to a buy rating and lifted their price objective for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird dropped their target price on shares of Medpace from $469.00 to $430.00 and set an outperform rating for the company in a research report on Wednesday, July 24th. Guggenheim decreased their price target on shares of Medpace from $464.00 to $432.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Finally, Mizuho began coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a buy rating and a $435.00 target price for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $423.00.

Medpace Price Performance

MEDP stock traded down $10.16 during mid-day trading on Thursday, reaching $375.00. 151,390 shares of the company traded hands, compared to its average volume of 244,724. The company has a fifty day moving average price of $403.45 and a 200-day moving average price of $384.77. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The company has a market capitalization of $11.63 billion, a P/E ratio of 39.26, a P/E/G ratio of 1.98 and a beta of 1.36.

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. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the previous year, the company earned $1.93 earnings per share. Medpace’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, analysts forecast that Medpace will post 11.69 EPS for the current year.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the sale, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO August J. Troendle sold 4,782 shares of Medpace stock in a transaction 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 sale, the chief executive officer now owns 716,197 shares in the company, valued at approximately $286,894,194.26. The disclosure for this sale can be found here. Insiders sold 14,519 shares of company stock worth $5,765,631 in the last three months. 20.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MEDP. Rise Advisors LLC bought a new stake in Medpace during the first quarter worth about $27,000. Mather Group LLC. bought a new position in Medpace in the 1st quarter worth about $28,000. Fidelis Capital Partners LLC bought a new stake in Medpace during the 1st quarter valued at about $31,000. DT Investment Partners LLC purchased a new position in Medpace in the second quarter worth about $41,000. Finally, Arcadia Investment Management Corp MI lifted its stake in shares of Medpace by 40.3% in the first quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after buying an additional 29 shares in the last quarter. 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.