Medpace Holdings, Inc. (NASDAQ:MEDP) Given Average Rating of “Reduce” by Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has earned an average recommendation of “Reduce” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $430.60.

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on Medpace from $300.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 23rd. Robert W. Baird increased their price objective on Medpace from $313.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. UBS Group lowered Medpace from a “neutral” rating to a “sell” rating and increased their target price for the company from $300.00 to $305.00 in a research note on Tuesday, July 29th. William Blair reissued a “market perform” rating on shares of Medpace in a report on Wednesday, July 23rd. Finally, Zacks Research downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd.

Medpace Stock Up 3.1%

Medpace stock opened at $544.41 on Tuesday. The stock has a market cap of $15.29 billion, a P/E ratio of 40.48, a P/E/G ratio of 3.31 and a beta of 1.40. Medpace has a twelve month low of $250.05 and a twelve month high of $547.15. The company’s 50-day moving average price is $494.13 and its two-hundred day moving average price is $384.67.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. During the same quarter in the previous year, the business posted $2.75 EPS. Medpace’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities analysts anticipate that Medpace will post 12.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin M. Brady sold 12,000 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $454.23, for a total value of $5,450,760.00. Following the transaction, the chief financial officer directly owned 6,000 shares of the company’s stock, valued at approximately $2,725,380. This represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO August J. Troendle sold 48,487 shares of Medpace stock in a transaction on Monday, July 28th. The stock was sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the completion of the transaction, the chief executive officer owned 962,615 shares in the company, valued at $434,803,569.35. This trade represents a 4.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,266 shares of company stock valued at $74,111,427 in the last three months. Insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

A number of hedge funds have recently modified their holdings of MEDP. Merit Financial Group LLC lifted its stake in Medpace by 108.7% in the 3rd quarter. Merit Financial Group LLC now owns 4,180 shares of the company’s stock valued at $2,149,000 after purchasing an additional 2,177 shares during the last quarter. Ascent Group LLC increased its stake in shares of Medpace by 3.1% in the 3rd quarter. Ascent Group LLC now owns 17,331 shares of the company’s stock valued at $8,911,000 after acquiring an additional 513 shares in the last quarter. Abacus FCF Advisors LLC lifted its holdings in Medpace by 23.4% during the third quarter. Abacus FCF Advisors LLC now owns 20,663 shares of the company’s stock worth $10,624,000 after acquiring an additional 3,917 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Medpace by 8.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,028 shares of the company’s stock valued at $529,000 after buying an additional 84 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in Medpace during the third quarter worth about $208,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.