TD Cowen Trims Medpace (NASDAQ:MEDP) Target Price to $434.00

Medpace (NASDAQ:MEDP) had its price target lowered by TD Cowen from $452.00 to $434.00 in a research report released on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

MEDP has been the subject of a number of other reports. Robert W. Baird increased their target price on Medpace from $456.00 to $469.00 and gave the stock an outperform rating in a research note on Monday, July 8th. Jefferies Financial Group raised Medpace from a hold rating to a buy rating and increased their target price for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Guggenheim cut their target price on Medpace from $464.00 to $432.00 and set a buy rating for the company in a research note on Wednesday. StockNews.com raised Medpace from a hold rating to a buy rating in a research note on Tuesday. Finally, Mizuho started coverage on Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 target price for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $424.14.

Medpace Trading Up 0.3 %

Medpace stock opened at $381.47 on Wednesday. Medpace has a twelve month low of $227.21 and a twelve month high of $459.77. The stock has a 50 day moving average of $404.32 and a two-hundred day moving average of $382.18. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 1.82 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same period last year, the firm earned $1.93 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities analysts predict that Medpace will post 11.69 earnings per share for the current year.

Insiders Place Their Bets

In other Medpace 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 transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Medpace news, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the completion of the transaction, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,621 shares of company stock valued at $11,816,852. Corporate insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

Several hedge funds have recently bought and sold shares of MEDP. Vanguard Group Inc. boosted its holdings in shares of Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after purchasing an additional 142,591 shares during the last quarter. Riverbridge Partners LLC boosted its holdings in shares of Medpace by 7.1% during the fourth quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock worth $199,975,000 after purchasing an additional 43,197 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after purchasing an additional 107,108 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Medpace by 15.3% during the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after acquiring an additional 6,137 shares during the last quarter. Hedge funds and other institutional investors 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.