Medpace Holdings, Inc. (NASDAQ:MEDP) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $443.14.

Several equities analysts have recently commented on the company. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Mizuho started coverage on Medpace in a research note on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target for the company. Guggenheim increased their price objective on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen started coverage on shares of Medpace in a report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 price target on the stock. Finally, Robert W. Baird increased their price objective on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the sale, the chief executive officer now directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO August J. Troendle sold 5,695 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the sale, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the transaction, the chief executive officer now owns 716,197 shares in the company, valued at approximately $286,894,194.26. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock valued at $11,816,852 in the last three months. Corporate insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Medpace by 312.6% in the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after purchasing an additional 319,210 shares during the period. TD Asset Management Inc raised its holdings 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 worth $143,162,000 after buying an additional 308,816 shares during the period. Findlay Park Partners LLP bought a new stake in shares of Medpace during the 1st quarter worth approximately $90,247,000. Clearbridge Investments LLC boosted its holdings in Medpace by 302.4% during the 1st 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 during the period. Finally, Norges Bank bought a new position in Medpace in the 4th quarter valued at $59,163,000. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Down 2.9 %

NASDAQ MEDP opened at $411.85 on Wednesday. Medpace has a 12 month low of $227.21 and a 12 month high of $437.39. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 2.04 and a beta of 1.39. The company’s 50 day moving average is $397.13 and its two-hundred day moving average is $368.04.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating the consensus estimate of $2.45 by $0.75. The firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $2.27 EPS. Sell-side analysts forecast that Medpace will post 11.29 EPS for the current year.

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.