BidaskClub upgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a strong-buy rating in a research note published on Friday.
A number of other analysts have also recently issued reports on MEDP. Zacks Investment Research cut Medpace from a buy rating to a hold rating in a research report on Tuesday, October 24th. Robert W. Baird boosted their price objective on Medpace from $32.00 to $35.00 and gave the company a neutral rating in a research report on Tuesday, October 31st. William Blair cut Medpace from an outperform rating to a market perform rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Jefferies Group boosted their price objective on Medpace from $34.00 to $38.00 and gave the company a hold rating in a research report on Wednesday, November 1st. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $36.60.
Shares of Medpace (MEDP) opened at $38.03 on Friday. The stock has a market capitalization of $1,429.21, a P/E ratio of 25.87, a PEG ratio of 1.62 and a beta of -0.76. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. Medpace has a 1 year low of $21.76 and a 1 year high of $39.64.
In other Medpace news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $30.16, for a total value of $138,736,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 25.80% of the company’s stock.
A number of large investors have recently made changes to their positions in MEDP. BlackRock Inc. grew its position in Medpace by 136.0% in the fourth quarter. BlackRock Inc. now owns 1,124,978 shares of the company’s stock valued at $40,793,000 after acquiring an additional 648,204 shares during the period. Cardinal Capital Management LLC CT bought a new stake in Medpace in the fourth quarter valued at $8,610,000. Ameriprise Financial Inc. bought a new stake in Medpace in the second quarter valued at $6,402,000. Monashee Investment Management LLC bought a new stake in Medpace in the fourth quarter valued at $7,252,000. Finally, Vanguard Group Inc. grew its position in Medpace by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock valued at $29,419,000 after acquiring an additional 191,597 shares during the period. Hedge funds and other institutional investors own 20.71% of the company’s stock.
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Medpace Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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