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

Medpace (NASDAQ:MEDP) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

MEDP has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price on the stock. Robert W. Baird lifted their target price on shares of Medpace from $456.00 to $469.00 and gave the company an “outperform” rating in a report on Monday. Mizuho began coverage on shares of Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. TD Cowen assumed coverage on shares of Medpace in a report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 target price on the stock. Finally, Guggenheim raised their price objective on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Medpace has a consensus rating of “Moderate Buy” and an average target price of $445.29.

Medpace Stock Performance

Medpace stock traded up $15.94 during midday trading on Thursday, hitting $434.99. 287,288 shares of the company’s stock were exchanged, compared to its average volume of 228,726. Medpace has a 12-month low of $227.21 and a 12-month high of $439.50. The stock has a market cap of $13.48 billion, a price-to-earnings ratio of 44.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The firm’s 50 day simple moving average is $399.18 and its 200 day simple moving average is $373.34.

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, topping the consensus estimate of $2.45 by $0.75. The company had revenue of $511.00 million for 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%. Medpace’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $2.27 EPS. On average, equities research analysts forecast that Medpace will post 11.29 EPS for the current fiscal year.

Insider Activity at Medpace

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 transaction, the chief executive officer now 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 accessible through this hyperlink. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were 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 owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the sale, the chief executive officer now directly owns 791,541 shares in the company, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock worth $11,816,852 over the last 90 days. Company insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

Institutional investors and hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. purchased a new position in shares of Medpace during the fourth quarter valued at approximately $26,000. RiverPark Advisors LLC purchased a new position in shares of Medpace during the fourth quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in shares of Medpace during the first quarter valued at approximately $27,000. Mather Group LLC. purchased a new position in shares of Medpace during the first quarter valued at approximately $28,000. Finally, GAMMA Investing LLC purchased a new position in shares of Medpace during the fourth quarter valued at approximately $30,000. 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.