StockNews.com Upgrades Medpace (NASDAQ:MEDP) to “Buy”

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research note published on Thursday morning.

Several other brokerages have also commented on MEDP. TD Cowen lowered their price objective on Medpace from $452.00 to $434.00 and set a buy rating for the company in a research report on Wednesday, July 24th. William Blair reissued an outperform rating on shares of Medpace in a research note on Tuesday, July 23rd. Mizuho began coverage on shares of Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 target price for the company. Robert W. Baird lowered their target price on shares of Medpace from $469.00 to $430.00 and set an outperform rating for the company in a report on Wednesday, July 24th. Finally, Guggenheim cut their price target on Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $423.00.

Medpace Trading Down 2.1 %

Shares of MEDP opened at $377.00 on Thursday. Medpace has a 1-year low of $227.21 and a 1-year high of $459.77. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 2.00 and a beta of 1.36. The firm’s 50-day moving average price is $403.18 and its 200-day moving average price is $386.80.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million for the quarter, compared to the consensus estimate of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 EPS. On average, research analysts forecast that Medpace will post 11.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ashley M. Keating 1,300 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Medpace news, Director Ashley M. Keating 1,300 shares of Medpace stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the transaction, the chief executive officer now owns 654,656 shares in the company, valued at approximately $258,909,901.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,519 shares of company stock valued at $5,765,631. Corporate insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

A number of hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Medpace by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after purchasing an additional 148 shares during the last quarter. FORA Capital LLC bought a new position in Medpace in the first quarter worth approximately $2,222,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Medpace by 355.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after acquiring an additional 2,774 shares during the last quarter. Norden Group LLC grew its position in shares of Medpace by 207.8% during the 4th quarter. Norden Group LLC now owns 5,014 shares of the company’s stock valued at $1,537,000 after acquiring an additional 3,385 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Medpace in the 1st quarter worth $5,179,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.