Medpace (NASDAQ:MEDP) Upgraded to Buy at StockNews.com

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

A number of other research firms have also weighed in on MEDP. Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a research note on Monday, March 18th. They set a hold rating and a $395.00 target price on the stock. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and lifted their target price for the stock from $340.00 to $450.00 in a research report on Tuesday. Robert W. Baird upped their price target on shares of Medpace from $312.00 to $408.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Finally, UBS Group raised Medpace from a neutral rating to a buy rating and upped their price objective for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $395.60.

Medpace Price Performance

NASDAQ:MEDP opened at $407.15 on Tuesday. The company has a 50 day moving average price of $397.68 and a 200-day moving average price of $323.14. Medpace has a 1-year low of $187.03 and a 1-year high of $419.42. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter in the prior year, the company posted $2.27 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that Medpace will post 10.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medpace news, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the transaction, the director now directly owns 250 shares of the company’s stock, valued at $102,467.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ashley M. Keating sold 250 shares of Medpace stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the sale, the director now directly owns 250 shares of the company’s stock, valued at $102,467.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the completion of the sale, the insider now directly owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The disclosure for this sale can be found here. Insiders sold 189,340 shares of company stock worth $76,651,647 over the last three months. 20.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Medpace during the 1st quarter valued at $27,000. Mather Group LLC. acquired a new stake in Medpace during the 1st quarter valued at $28,000. Contravisory Investment Management Inc. acquired a new position in Medpace during the fourth quarter valued at $26,000. RiverPark Advisors LLC purchased a new stake in shares of Medpace in the fourth quarter worth approximately $26,000. Finally, Arcadia Investment Management Corp MI lifted its position in Medpace by 40.3% in the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after buying an additional 29 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

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.