Medpace (NASDAQ:MEDP) Sets New 12-Month High Following Analyst Upgrade

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) reached a new 52-week high during trading on Wednesday after Guggenheim raised their price target on the stock from $453.00 to $464.00. Guggenheim currently has a buy rating on the stock. Medpace traded as high as $421.00 and last traded at $415.94, with a volume of 65400 shares trading hands. The stock had previously closed at $407.15.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird raised their target price on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. 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 price target on the stock. UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and lifted their price target for the stock from $340.00 to $450.00 in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $443.00.

Insider Buying and Selling

In related news, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total value of $5,404,823.32. Following the transaction, the insider now directly owns 5,525,959 shares of the company’s stock, valued at $2,135,175,298.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO August J. Troendle sold 100,000 shares of Medpace stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace 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 owns 5,525,959 shares in the company, valued at approximately $2,135,175,298.01. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 over the last three months. 20.30% of the stock is owned by company insiders.

Institutional Trading of Medpace

Large investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in Medpace in the first quarter valued at $27,000. Mather Group LLC. bought a new stake in shares of Medpace during the 1st quarter valued at $28,000. Contravisory Investment Management Inc. bought a new stake in shares of Medpace during the 4th quarter valued at $26,000. RiverPark Advisors LLC bought a new stake in shares of Medpace during the 4th quarter valued at $26,000. Finally, Arcadia Investment Management Corp MI boosted its holdings in shares of Medpace by 40.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock valued at $41,000 after buying an additional 29 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Down 2.4 %

The stock has a market cap of $12.32 billion, a P/E ratio of 40.53, a PEG ratio of 1.99 and a beta of 1.38. The stock’s fifty day moving average price is $397.84 and its 200 day moving average price is $323.66.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The firm had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter in the previous year, the business posted $2.27 EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 10.53 earnings per share for the current year.

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.