Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Has Consensus Target Price of $642.91 According to Brokerages

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have received a consensus rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $649.27.

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Medpace from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Mizuho set a $730.00 price target on shares of Medpace in a research note on Friday, October 23rd. Royal Bank Of Canada increased their price target on shares of Medpace from $484.00 to $692.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Leerink Partners set a $620.00 price objective on shares of Medpace in a research note on Thursday, July 23rd. Finally, TD Cowen raised their price objective on shares of Medpace from $492.00 to $673.00 and gave the company a “hold” rating in a research note on Friday, October 23rd.

Medpace Price Performance

Shares of MEDP stock opened at $652.01 on Friday. Medpace has a 1-year low of $373.00 and a 1-year high of $693.97. The firm has a market cap of $18.24 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.63 and a beta of 1.18. The company has a 50-day moving average of $619.12 and a two-hundred day moving average of $531.32.

Medpace (NASDAQ:MEDP) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $714.47 million. During the same quarter in the previous year, the company earned $3.86 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Medpace will post 18.06 EPS for the current fiscal year.

Insider Activity at Medpace

In other Medpace news, VP Susan Burwig sold 3,940 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $677.00, for a total value of $2,667,380.00. Following the completion of the transaction, the vice president owned 54,012 shares of the company’s stock, valued at $36,566,124. This trade represents a 6.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO August Troendle sold 21,966 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $625.47, for a total transaction of $13,739,074.02. Following the completion of the transaction, the chief executive officer owned 338,225 shares of the company’s stock, valued at approximately $211,549,590.75. This trade represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 341,402 shares of company stock worth $212,702,324. 20.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Novem Group grew its stake in Medpace by 1.0% in the 3rd quarter. Novem Group now owns 2,127 shares of the company’s stock valued at $1,328,000 after purchasing an additional 22 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of Medpace by 3.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 783 shares of the company’s stock worth $489,000 after purchasing an additional 24 shares during the period. Balefire LLC raised its stake in shares of Medpace by 6.1% during the 1st quarter. Balefire LLC now owns 451 shares of the company’s stock worth $217,000 after purchasing an additional 26 shares during the period. Motley Fool Asset Management LLC boosted its holdings in shares of Medpace by 3.3% in the 3rd quarter. Motley Fool Asset Management LLC now owns 819 shares of the company’s stock worth $511,000 after buying an additional 26 shares during the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Medpace by 34.1% in the 1st quarter. Root Financial Partners LLC now owns 122 shares of the company’s stock worth $59,000 after buying an additional 31 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Company Profile

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.