Medpace (NASDAQ:MEDP) Stock Price Up 2.9%

Medpace Holdings, Inc. (NASDAQ:MEDP) shares shot up 2.9% during trading on Wednesday . The company traded as high as $367.56 and last traded at $367.56. 131,338 shares were traded during mid-day trading, a decline of 44% from the average session volume of 233,908 shares. The stock had previously closed at $357.30.

Analysts Set New Price Targets

A number of research firms have recently commented on MEDP. Robert W. Baird lowered their target price on Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Guggenheim lowered their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Medpace in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.14.

Medpace Stock Down 0.4 %

The company has a market cap of $11.80 billion, a P/E ratio of 38.79, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. The company has a fifty day moving average of $404.55 and a 200 day moving average of $381.65.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same quarter in the previous year, the company posted $1.93 earnings per share. Medpace’s revenue was up 14.6% compared to the same quarter last year. As a group, research analysts forecast that Medpace Holdings, Inc. will post 11.59 EPS for the current year.

Insider Buying and Selling at Medpace

In other Medpace news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the completion of the sale, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Medpace news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the completion of the sale, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total value of $6,051,220.38. Following the sale, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,621 shares of company stock valued at $11,816,852. Company insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Medpace by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after acquiring an additional 148 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Medpace in the first quarter valued at about $2,222,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Medpace by 355.2% in 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 acquiring an additional 2,774 shares in the last quarter. Norden Group LLC lifted its position in shares of Medpace by 207.8% in the fourth quarter. Norden Group LLC now owns 5,014 shares of the company’s stock worth $1,537,000 after buying an additional 3,385 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Medpace in the first quarter worth about $5,179,000. 77.98% of the stock is currently 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.