Medpace (NASDAQ:MEDP) Sets New 52-Week High – Time to Buy?

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) reached a new 52-week high during trading on Wednesday. The stock traded as high as $690.78 and last traded at $683.8710, with a volume of 87,637 shares traded. The stock had previously closed at $673.79.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MEDP. Jefferies Financial Group restated a “hold” rating on shares of Medpace in a research report on Monday, September 14th. Royal Bank Of Canada raised their price objective on Medpace from $484.00 to $692.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $535.00 price target on shares of Medpace in a research note on Thursday, July 23rd. Robert W. Baird set a $699.00 price objective on Medpace in a report on Friday, October 23rd. Finally, BMO Capital Markets boosted their price objective on shares of Medpace from $600.00 to $670.00 and gave the company a “market perform” rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $649.27.

Medpace Trading Down 3.2%

The firm’s 50 day moving average price is $618.33 and its two-hundred day moving average price is $531.06. The company has a market capitalization of $18.75 billion, a P/E ratio of 37.17, a PEG ratio of 2.69 and a beta of 1.18.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $714.47 million. During the same period in the previous year, the firm earned $3.86 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Medpace Holdings, Inc. will post 18.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO August Troendle sold 49,018 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $628.11, for a total value of $30,788,695.98. Following the transaction, the chief executive officer directly owned 433,372 shares of the company’s stock, valued at approximately $272,205,286.92. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Susan Burwig sold 16,060 shares of Medpace stock in a transaction on Monday, October 26th. The shares were sold at an average price of $677.00, for a total value of $10,872,620.00. Following the completion of the transaction, the vice president owned 57,624 shares of the company’s stock, valued at approximately $39,011,448. This trade represents a 21.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 341,402 shares of company stock worth $212,702,324. 20.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medpace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Johnson Financial Group Inc. bought a new stake in shares of Medpace during the second quarter valued at approximately $27,000. Jones Financial Companies Lllp purchased a new position in shares of Medpace in the second quarter valued at $30,000. Allied Private Wealth LLC purchased a new stake in Medpace during the 2nd quarter valued at $31,000. Kilter Group LLC purchased a new stake in Medpace in the 2nd quarter worth about $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Medpace during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.