Medpace (NASDAQ:MEDP) Upgraded at StockNews.com

Medpace (NASDAQ:MEDP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities analysts have also commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective on the stock. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $340.00 to $450.00 in a research note on Tuesday. Finally, Robert W. Baird lifted their price objective on Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $395.60.

Medpace Stock Performance

Shares of NASDAQ:MEDP traded up $30.89 during midday trading on Tuesday, hitting $407.15. 808,112 shares of the stock were exchanged, compared to its average volume of 249,150. Medpace has a 52-week low of $187.03 and a 52-week high of $419.42. The business’s fifty day simple moving average is $397.68 and its two-hundred day simple moving average is $323.14. The company has a market capitalization of $12.61 billion, a PE ratio of 45.85, a P/E/G ratio of 1.97 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.75. Medpace had a return on equity of 63.98% and a net margin of 15.00%. The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. During the same period last year, the company earned $2.27 earnings per share. Medpace’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that Medpace will post 10.53 EPS for the current year.

Insider Buying and Selling

In related news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Medpace news, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the sale, the insider now directly owns 5,525,959 shares of the company’s stock, valued at $2,135,175,298.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares in the company, valued at $6,117,943. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 over the last three months. 20.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently added to or reduced their stakes in MEDP. Vanguard Group Inc. boosted its holdings in shares of Medpace by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after acquiring an additional 142,591 shares in the last quarter. Riverbridge Partners LLC boosted its holdings in shares of Medpace by 7.1% in the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock worth $199,975,000 after acquiring an additional 43,197 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Medpace by 67.6% in the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock worth $148,159,000 after acquiring an additional 246,775 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Medpace by 195.2% in the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after acquiring an additional 308,816 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Medpace by 312.6% in the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after acquiring an additional 319,210 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

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.