Robert W. Baird Raises Medpace (NASDAQ:MEDP) Price Target to $469.00

Medpace (NASDAQ:MEDP) had its price target upped by Robert W. Baird from $456.00 to $469.00 in a research report report published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Mizuho initiated coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a buy rating and a $435.00 price objective for the company. Guggenheim boosted their price objective on shares of Medpace from $453.00 to $464.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research report on Monday, March 18th. They issued a hold rating and a $395.00 price objective for the company. TD Cowen initiated coverage on shares of Medpace in a research report on Wednesday, May 29th. They issued a buy rating and a $452.00 price objective for the company. Finally, StockNews.com cut shares of Medpace from a buy rating to a hold rating in a research report on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace has an average rating of Moderate Buy and a consensus target price of $445.29.

Medpace Trading Up 2.0 %

NASDAQ:MEDP opened at $419.05 on Monday. Medpace has a 1 year low of $227.21 and a 1 year high of $437.39. The firm has a 50 day moving average of $398.76 and a 200-day moving average of $373.02. The stock has a market capitalization of $12.98 billion, a P/E ratio of 42.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter in the previous year, the company posted $2.27 earnings per share. Medpace’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, analysts forecast that Medpace will post 11.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,621 shares of company stock valued at $11,816,852. Company insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEDP. Integrated Advisors Network LLC acquired a new position in Medpace in the 3rd quarter worth $1,633,000. American Century Companies Inc. boosted its stake in Medpace by 35.4% in the 3rd quarter. American Century Companies Inc. now owns 52,758 shares of the company’s stock worth $12,774,000 after purchasing an additional 13,806 shares during the period. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 319,210 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Medpace by 88.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 8,664 shares of the company’s stock worth $2,098,000 after purchasing an additional 4,077 shares during the period. Finally, Baron Wealth Management LLC bought a new stake in Medpace during the 4th quarter worth about $366,000. 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.