Medpace (NASDAQ:MEDP) PT Raised to $454.00 at Robert W. Baird

Medpace (NASDAQ:MEDP) had its price target lifted by Robert W. Baird from $446.00 to $454.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 16.48% from the company’s previous close.

Several other equities research analysts also recently weighed in on MEDP. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and increased their price target for the stock from $340.00 to $450.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price target for the company. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and lifted their price target for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $443.00.

Medpace Price Performance

Shares of MEDP stock opened at $389.77 on Wednesday. The business has a fifty day moving average of $397.75 and a 200 day moving average of $324.12. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. Medpace has a 1 year low of $189.30 and a 1 year high of $421.00.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.75. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm earned $2.27 EPS. As a group, equities research analysts expect that Medpace will post 11.23 earnings per share for the current year.

Insiders Place Their Bets

In other Medpace news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Medpace Investors, Llc sold 13,988 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the transaction, the chief executive officer now owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The disclosure for this sale can be found here. In the last three months, insiders sold 189,340 shares of company stock worth $76,651,647. Corporate insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently bought and sold shares of MEDP. RiverPark Advisors LLC acquired a new position in Medpace in the 4th quarter valued at about $26,000. Contravisory Investment Management Inc. purchased a new stake in shares of Medpace in the 4th quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in shares of Medpace in the 1st quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in shares of Medpace in the 1st quarter valued at approximately $28,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Medpace in the 3rd quarter valued at approximately $30,000. 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.