StockNews.com Upgrades Medpace (NASDAQ:MEDP) to “Buy”

Medpace (NASDAQ:MEDP) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts have also issued reports on MEDP. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and raised their price objective for the company from $282.00 to $452.00 in a report on Thursday, February 15th. Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and raised their price objective for the company from $340.00 to $450.00 in a report on Tuesday. Robert W. Baird raised their price target on shares of Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $443.00.

Medpace Trading Down 2.4 %

MEDP stock opened at $397.56 on Tuesday. The stock has a market capitalization of $12.32 billion, a P/E ratio of 40.53, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. Medpace has a 12 month low of $189.30 and a 12 month high of $421.00. The firm has a 50-day moving average price of $397.84 and a 200-day moving average price of $323.66.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.27 earnings per share. As a group, equities analysts predict that Medpace will post 10.53 EPS for the current fiscal year.

Insider Transactions at Medpace

In other news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the sale, the insider now directly owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock valued at $76,651,647 in the last quarter. 20.30% of the stock is currently owned by company insiders.

Institutional Trading of Medpace

Several institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Medpace by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after buying an additional 148 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in shares of Medpace by 14.8% in the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after buying an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Medpace by 355.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after buying an additional 2,774 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Medpace in the 4th quarter worth about $1,992,000. Finally, Chase Investment Counsel Corp boosted its holdings in shares of Medpace by 3.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock worth $2,384,000 after buying an additional 301 shares during 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.