Medpace (NASDAQ:MEDP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $54.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential downside of 0.70% from the company’s previous close.
According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “
Several other equities research analysts have also weighed in on MEDP. William Blair upgraded Medpace from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 31st. BidaskClub downgraded Medpace from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Credit Suisse Group boosted their target price on Medpace from $42.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. TheStreet raised Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. Finally, SunTrust Banks began coverage on Medpace in a report on Monday, September 17th. They issued a “hold” rating and a $63.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Medpace currently has an average rating of “Buy” and a consensus price target of $44.43.
Shares of MEDP stock opened at $54.38 on Thursday. The company has a market capitalization of $1.86 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.41. Medpace has a fifty-two week low of $31.70 and a fifty-two week high of $65.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.68 and a current ratio of 0.66.
Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Medpace had a return on equity of 15.86% and a net margin of 10.84%. The company had revenue of $179.00 million for the quarter, compared to analyst estimates of $175.07 million. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was up 44.4% on a year-over-year basis. Research analysts forecast that Medpace will post 2.5 earnings per share for the current year.
In other news, CEO August J. Troendle sold 46,778 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $58.96, for a total value of $2,758,030.88. Following the completion of the transaction, the chief executive officer now owns 351,851 shares in the company, valued at $20,745,134.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medpace Limited Partnership sold 5,175,000 shares of the business’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $54.35, for a total value of $281,261,250.00. The disclosure for this sale can be found here. Insiders sold 11,528,016 shares of company stock worth $634,098,544 over the last three months. Corporate insiders own 29.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of MEDP. Laurion Capital Management LP purchased a new position in shares of Medpace in the second quarter worth $29,230,000. BlackRock Inc. raised its stake in shares of Medpace by 32.4% in the second quarter. BlackRock Inc. now owns 1,605,667 shares of the company’s stock worth $69,043,000 after purchasing an additional 392,792 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Medpace by 28.2% in the second quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock worth $55,106,000 after purchasing an additional 282,216 shares during the last quarter. Chartwell Investment Partners LLC purchased a new position in shares of Medpace in the second quarter worth $11,190,000. Finally, Renaissance Technologies LLC raised its stake in shares of Medpace by 208.9% in the second quarter. Renaissance Technologies LLC now owns 338,900 shares of the company’s stock worth $14,573,000 after purchasing an additional 229,200 shares during the last quarter. Hedge funds and other institutional investors own 39.89% of the company’s stock.
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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