Medpace Holdings, Inc. (NASDAQ:MEDP) Given Consensus Rating of “Moderate Buy” by Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $423.00.

A number of equities research analysts have recently commented on MEDP shares. TD Cowen reduced their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Guggenheim cut their price target on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, Robert W. Baird reduced their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th.

Insider Activity

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 transaction of $1,575,742.14. Following the completion of the sale, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Medpace news, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the completion of the sale, the chief executive officer now directly owns 660,351 shares in the company, valued at $260,983,922.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares in the company, valued at $258,909,901.44. The disclosure for this sale can be found here. Insiders have sold a total of 9,737 shares of company stock valued at $3,850,058 in the last quarter. Insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently modified their holdings of MEDP. Chase Investment Counsel Corp boosted its holdings in Medpace by 2.6% during the 2nd quarter. Chase Investment Counsel Corp now owns 9,012 shares of the company’s stock valued at $3,711,000 after acquiring an additional 231 shares during the period. Seaport Global Advisors LLC acquired a new stake in shares of Medpace during the second quarter worth about $585,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Medpace by 95.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 225 shares of the company’s stock worth $93,000 after purchasing an additional 110 shares in the last quarter. Nemes Rush Group LLC purchased a new position in shares of Medpace in the second quarter valued at approximately $120,000. Finally, Algert Global LLC grew its holdings in shares of Medpace by 10.7% in the second quarter. Algert Global LLC now owns 31,341 shares of the company’s stock valued at $12,908,000 after purchasing an additional 3,021 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

Shares of Medpace stock opened at $392.01 on Thursday. The stock has a market capitalization of $12.15 billion, a P/E ratio of 39.96, a PEG ratio of 2.00 and a beta of 1.36. The business has a 50 day simple moving average of $400.39 and a two-hundred day simple moving average of $393.38. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 earnings per share. As a group, research analysts anticipate that Medpace will post 11.66 EPS for the current fiscal year.

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.