Medpace (NASDAQ:MEDP) Price Target Raised to $464.00 at Guggenheim

Medpace (NASDAQ:MEDP) had its target price raised by Guggenheim from $453.00 to $464.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group raised Medpace from a hold rating to a buy rating and upped their target price for the company from $340.00 to $450.00 in a report on Tuesday. StockNews.com upgraded Medpace from a hold rating to a buy rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research report on Monday, March 18th. They set a hold rating and a $395.00 price objective for the company. UBS Group upgraded Medpace from a neutral rating to a buy rating and boosted their price objective for the stock from $282.00 to $452.00 in a research report on Thursday, February 15th. Finally, Robert W. Baird upped their target price on Medpace from $446.00 to $454.00 and gave the stock an outperform rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $443.00.

Medpace Stock Down 2.4 %

Shares of Medpace stock opened at $397.56 on Wednesday. The firm has a market cap of $12.32 billion, a P/E ratio of 40.53, a P/E/G ratio of 2.04 and a beta of 1.38. Medpace has a fifty-two week low of $189.30 and a fifty-two week high of $421.00. The business has a 50-day moving average price of $397.84 and a 200 day moving average price of $323.66.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data 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. The firm had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. Medpace’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 earnings per share. As a group, equities research analysts anticipate that Medpace will post 11.13 earnings per share for the current year.

Insider Buying and Selling at Medpace

In other news, major shareholder Medpace Investors, Llc sold 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the transaction, the insider now directly owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the transaction, the insider now directly owns 5,539,947 shares in the company, valued at $2,170,274,237.25. 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 in the last three months. 20.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Medpace

Several hedge funds have recently bought and sold shares of MEDP. Wellington Management Group LLP boosted its holdings in Medpace by 312.6% during the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after acquiring an additional 319,210 shares during the period. TD Asset Management Inc lifted its stake in shares of Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after buying an additional 308,816 shares during the period. Invesco Ltd. lifted its stake in shares of Medpace by 67.6% in the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after buying an additional 246,775 shares during the period. Norges Bank bought a new stake in shares of Medpace in the fourth quarter valued at about $59,163,000. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Medpace by 82.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after buying an additional 159,144 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

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.