Medpace (NASDAQ:MEDP) Reaches New 12-Month High at $424.49

Medpace Holdings, Inc. (NASDAQ:MEDP) shares reached a new 52-week high on Thursday . The stock traded as high as $424.49 and last traded at $424.34, with a volume of 262118 shares traded. The stock had previously closed at $405.33.

Analyst Ratings Changes

MEDP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price objective on the stock. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Guggenheim lifted their price objective on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Finally, Robert W. Baird lifted their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $443.14.

Medpace Stock Performance

The business’s fifty day moving average is $397.13 and its two-hundred day moving average is $366.98. The company has a market cap of $12.76 billion, a P/E ratio of 41.98, a price-to-earnings-growth ratio of 2.10 and a beta of 1.39.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The company 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 59.74%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 earnings per share. Analysts expect that Medpace Holdings, Inc. will post 11.29 EPS for the current fiscal year.

Insider Activity

In related news, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the sale, the chief executive officer now owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO August J. Troendle sold 5,695 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock worth $11,816,852 over the last three months. Insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

Several hedge funds have recently added to or reduced their stakes in MEDP. Wellington Management Group LLP raised its holdings in Medpace by 312.6% in 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 in the last quarter. TD Asset Management Inc raised its holdings in 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 acquiring an additional 308,816 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in Medpace in the first quarter valued at approximately $90,247,000. Clearbridge Investments LLC raised its holdings in Medpace by 302.4% in the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after acquiring an additional 195,698 shares in the last quarter. Finally, Norges Bank acquired a new stake in Medpace in the fourth quarter valued at approximately $59,163,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.