StockNews.com Upgrades Medpace (NASDAQ:MEDP) to “Buy”

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a report published on Tuesday morning.

Other equities analysts also recently issued reports about the stock. Robert W. Baird upped their price objective on shares of Medpace from $456.00 to $469.00 and gave the company an outperform rating in a report on Monday, July 8th. TD Cowen initiated coverage on shares of Medpace in a report on Wednesday, May 29th. They issued a buy rating and a $452.00 price objective on the stock. Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and upped their price objective for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. Guggenheim raised their price target on shares of Medpace from $453.00 to $464.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Finally, Mizuho initiated coverage on shares of Medpace in a research report on Tuesday, May 28th. They set a buy rating and a $435.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $424.14.

Medpace Trading Down 0.4 %

NASDAQ MEDP opened at $380.50 on Tuesday. The firm’s fifty day moving average price is $404.55 and its two-hundred day moving average price is $381.65. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The firm has a market capitalization of $11.79 billion, a P/E ratio of 38.79, a price-to-earnings-growth ratio of 1.76 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 59.91%. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period in the prior year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts anticipate that Medpace will post 11.33 EPS for the current fiscal year.

Insider Buying and Selling at Medpace

In other Medpace news, CEO August J. Troendle sold 15,102 shares of the firm’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 transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the firm’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 transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 15,102 shares of the firm’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 transaction, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders have sold a total of 29,621 shares of company stock valued at $11,816,852 in the last ninety days. 20.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medpace

A number of hedge funds have recently made changes to their positions in MEDP. Westwind Capital boosted its stake in shares of Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Medpace by 195.2% in the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in shares of Medpace in the 1st quarter valued at approximately $90,247,000. Clearbridge Investments LLC boosted its stake in shares of Medpace by 302.4% in the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after purchasing an additional 195,698 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Medpace in the 4th quarter valued at approximately $59,163,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

About Medpace

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.