Medpace (NASDAQ:MEDP) PT Lowered to $432.00 at Guggenheim

Medpace (NASDAQ:MEDP) had its price target reduced by Guggenheim from $464.00 to $432.00 in a research note published 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 boosted their price target for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Mizuho started coverage on Medpace in a research note on Tuesday, May 28th. They issued a buy rating and a $435.00 price target on the stock. TD Cowen started coverage on Medpace in a report on Wednesday, May 29th. They set a buy rating and a $452.00 price objective for the company. StockNews.com upgraded Medpace from a hold rating to a buy rating in a report on Tuesday, July 23rd. Finally, William Blair restated an outperform rating on shares of Medpace in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Medpace currently has a consensus rating of Moderate Buy and an average price target of $424.14.

Medpace Price Performance

Medpace stock opened at $381.47 on Wednesday. The stock’s 50 day moving average is $404.32 and its 200 day moving average is $382.76. The firm has a market cap of $11.83 billion, a P/E ratio of 38.89, a P/E/G ratio of 1.82 and a beta of 1.36. Medpace has a one year low of $227.21 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period in the previous year, the firm earned $1.93 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. Equities analysts anticipate that Medpace will post 11.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 4,782 shares of the company’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 sale, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Medpace news, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the transaction, the chief executive officer now owns 791,541 shares in the company, valued at approximately $317,162,563.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value 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 approximately $286,894,194.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,621 shares of company stock worth $11,816,852. 20.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI lifted its position in shares of Medpace by 40.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock valued at $41,000 after buying an additional 29 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Medpace by 1.3% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,075 shares of the company’s stock worth $943,000 after purchasing an additional 39 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Medpace by 5.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after purchasing an additional 39 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Medpace by 5.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 954 shares of the company’s stock worth $292,000 after purchasing an additional 45 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Medpace by 43.3% during the 1st quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock worth $60,000 after purchasing an additional 45 shares in 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.