Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $443.14 Average PT from Brokerages

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $443.14.

Several research analysts recently weighed in on the company. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and increased their target price for the stock from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective on the stock. Guggenheim raised their price objective on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TD Cowen began coverage on Medpace in a research report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 price objective on the stock. Finally, StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research report on Friday, June 7th.

Medpace Stock Down 0.7 %

Shares of Medpace stock opened at $404.42 on Wednesday. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $437.39. The firm has a market cap of $12.53 billion, a PE ratio of 41.23, a P/E/G ratio of 2.04 and a beta of 1.36. The business’s fifty day moving average is $397.69 and its two-hundred day moving average is $369.55.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.75. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the company posted $2.27 EPS. Equities research analysts anticipate that Medpace will post 11.29 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Medpace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Medpace by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after buying an additional 148 shares during the last quarter. Portside Wealth Group LLC raised its holdings in shares of Medpace by 14.8% during the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after buying an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Medpace by 355.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock valued at $1,090,000 after buying an additional 2,774 shares during the last quarter. Norden Group LLC raised its holdings in shares of Medpace by 207.8% during the fourth quarter. Norden Group LLC now owns 5,014 shares of the company’s stock valued at $1,537,000 after buying an additional 3,385 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of Medpace by 155.0% during the fourth quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock valued at $69,409,000 after buying an additional 137,632 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.