Medpace (MEDP) Downgraded by BidaskClub to “Buy”

BidaskClub cut shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

Other analysts have also issued reports about the stock. TheStreet upgraded shares of Medpace from a c rating to a b- rating in a research report on Friday, August 10th. William Blair upgraded shares of Medpace from a market perform rating to an outperform rating in a research report on Tuesday, July 31st. SunTrust Banks assumed coverage on shares of Medpace in a research report on Monday, September 17th. They issued a hold rating and a $63.00 price target on the stock. Zacks Investment Research upgraded shares of Medpace from a hold rating to a buy rating and set a $48.00 price target on the stock in a research report on Tuesday, July 3rd. Finally, Credit Suisse Group increased their price target on shares of Medpace from $42.00 to $49.00 and gave the company an outperform rating in a research report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Medpace currently has a consensus rating of Buy and an average price target of $44.43.

Shares of MEDP stock traded up $0.01 during trading hours on Wednesday, hitting $54.38. The company’s stock had a trading volume of 777,135 shares, compared to its average volume of 501,042. Medpace has a twelve month low of $31.70 and a twelve month high of $65.09.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $179.00 million during the quarter, compared to analyst estimates of $175.07 million. The firm’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share.

In related news, CEO August J. Troendle sold 731,460 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $59.26, for a total transaction of $43,346,319.60. Following the transaction, the chief executive officer now owns 849,621 shares of the company’s stock, valued at $50,348,540.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO August J. Troendle sold 114,983 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $59.31, for a total transaction of $6,819,641.73. Following the transaction, the chief executive officer now directly owns 351,851 shares in the company, valued at approximately $20,868,282.81. The disclosure for this sale can be found here. Insiders have sold 11,528,016 shares of company stock worth $634,098,544 in the last three months. Insiders own 29.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. lifted its stake in shares of Medpace by 5,087.5% during the second quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock valued at $196,000 after buying an additional 4,477 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Medpace during the second quarter worth approximately $400,000. Laurion Capital Management LP purchased a new position in Medpace during the second quarter worth approximately $29,230,000. PNC Financial Services Group Inc. raised its stake in Medpace by 592.9% during the second quarter. PNC Financial Services Group Inc. now owns 54,798 shares of the company’s stock worth $2,356,000 after purchasing an additional 46,890 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Medpace by 24.9% during the second quarter. Russell Investments Group Ltd. now owns 171,323 shares of the company’s stock worth $7,380,000 after purchasing an additional 34,121 shares during the period. 39.89% of the stock is currently owned by institutional investors and hedge funds.

About Medpace

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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