Deutsche Bank Aktiengesellschaft Trims Medpace (NASDAQ:MEDP) Target Price to $336.00

Medpace (NASDAQ:MEDP) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $395.00 to $336.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms also recently commented on MEDP. Guggenheim dropped their price objective on shares of Medpace from $464.00 to $432.00 and set a buy rating for the company in a report on Wednesday. Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and increased their price target for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. TD Cowen lowered their price target on shares of Medpace from $452.00 to $434.00 and set a buy rating for the company in a report on Wednesday. Mizuho began coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a buy rating and a $435.00 price objective on the stock. Finally, William Blair reissued an outperform rating on shares of Medpace in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $424.14.

Medpace Stock Performance

Shares of Medpace stock opened at $381.47 on Wednesday. The company has a market capitalization of $11.83 billion, a P/E ratio of 38.89, a P/E/G ratio of 1.82 and a beta of 1.36. The company has a fifty day moving average of $404.32 and a 200 day moving average of $382.76. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last released 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 business had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. During the same quarter in the prior year, the firm earned $1.93 EPS. The business’s revenue was up 14.6% on a year-over-year basis. Analysts forecast that Medpace will post 11.69 EPS for the current year.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction 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 in the company, valued at $260,983,922.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,621 shares of company stock valued at $11,816,852. 20.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently bought and sold shares of MEDP. Rise Advisors LLC purchased a new position in Medpace in the first quarter worth $27,000. Mather Group LLC. purchased a new stake in shares of Medpace during the first quarter valued at $28,000. GAMMA Investing LLC purchased a new stake in shares of Medpace during the fourth quarter valued at $30,000. Fidelis Capital Partners LLC purchased a new stake in shares of Medpace during the first quarter valued at $31,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Medpace during the fourth quarter valued at $33,000. 77.98% of the stock is owned by hedge funds and other 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.