Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $110.00.
Several equities analysts recently issued reports on the company. Truist raised Medpace from a “hold” rating to a “buy” rating and upped their price objective for the company from $124.00 to $135.00 in a research report on Friday, October 2nd. BidaskClub raised Medpace from a “buy” rating to a “strong-buy” rating in a report on Friday, December 11th. Finally, Zacks Investment Research raised Medpace from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a report on Tuesday.
MEDP stock traded up $0.29 during midday trading on Wednesday, hitting $140.44. The company’s stock had a trading volume of 169,261 shares, compared to its average volume of 234,258. The company has a market cap of $5.02 billion, a PE ratio of 42.95 and a beta of 1.34. Medpace has a 12 month low of $58.72 and a 12 month high of $150.57. The firm’s 50-day moving average is $137.09 and its 200-day moving average is $121.00.
Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Saturday, October 31st. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $230.37 million for the quarter, compared to analysts’ expectations of $223.56 million. Medpace had a return on equity of 17.67% and a net margin of 13.87%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. On average, equities analysts predict that Medpace will post 4 earnings per share for the current year.
In other news, major shareholder Medpace Investors, Llc sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $130.86, for a total transaction of $1,832,040.00. Following the transaction, the insider now directly owns 6,771,855 shares of the company’s stock, valued at $886,164,945.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 185,219 shares of the firm’s stock in a transaction that occurred on Thursday, January 7th. The stock was sold at an average price of $140.06, for a total transaction of $25,941,773.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 532,750 shares of company stock valued at $74,888,848. 26.00% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in Medpace during the third quarter valued at approximately $19,167,000. UBS Asset Management Americas Inc. increased its holdings in Medpace by 439.6% during the third quarter. UBS Asset Management Americas Inc. now owns 163,918 shares of the company’s stock valued at $18,318,000 after buying an additional 133,539 shares during the period. CI Investments Inc. purchased a new position in Medpace during the third quarter valued at approximately $14,505,000. Point72 Asset Management L.P. purchased a new position in Medpace during the third quarter valued at approximately $13,394,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Medpace during the third quarter valued at approximately $11,532,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.
Medpace Company Profile
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas.
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