ValuEngine downgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report issued on Thursday.
Other equities analysts have also issued reports about the company. TheStreet raised Medpace from a c rating to a b- rating in a research note on Friday, August 10th. SunTrust Banks assumed coverage on Medpace in a research note on Monday, September 17th. They set a hold rating and a $63.00 price target for the company. BidaskClub lowered Medpace from a strong-buy rating to a buy rating in a research note on Wednesday, October 31st. Finally, Zacks Investment Research raised Medpace from a hold rating to a buy rating and set a $54.00 price target for the company in a research note on Thursday, November 1st. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $44.43.
Shares of Medpace stock opened at $57.71 on Thursday. Medpace has a 12 month low of $31.75 and a 12 month high of $65.09. The company has a market cap of $2.05 billion, a P/E ratio of 37.97, a PEG ratio of 1.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66.
Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $175.07 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 44.4% on a year-over-year basis. Research analysts predict that Medpace will post 2.51 earnings per share for the current year.
In other news, CEO August J. Troendle sold 38,640 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $58.36, for a total value of $2,255,030.40. Following the completion of the sale, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at approximately $20,534,024.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Medpace Investors, Llc sold 132,304 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $58.58, for a total value of $7,750,368.32. Following the completion of the sale, the insider now directly owns 8,989,174 shares of the company’s stock, valued at $526,585,812.92. The disclosure for this sale can be found here. Insiders sold a total of 396,559 shares of company stock valued at $23,422,389 over the last ninety days. Corporate insiders own 29.50% of the company’s stock.
Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Medpace during the 2nd quarter worth approximately $107,000. Great West Life Assurance Co. Can lifted its stake in shares of Medpace by 270.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 3,331 shares of the company’s stock worth $200,000 after acquiring an additional 2,431 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Medpace by 78.6% during the 3rd quarter. Legal & General Group Plc now owns 3,436 shares of the company’s stock worth $206,000 after acquiring an additional 1,512 shares during the last quarter. Ibex Investors LLC bought a new stake in shares of Medpace during the 3rd quarter worth approximately $212,000. Finally, Cim LLC bought a new stake in shares of Medpace during the 3rd quarter worth approximately $218,000. 67.54% of the stock is owned by institutional investors and hedge funds.
Medpace Company Profile
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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