Guggenheim Raises Medpace (NASDAQ:MEDP) Price Target to $464.00

Medpace (NASDAQ:MEDP) had its target price upped by Guggenheim from $453.00 to $464.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently commented on MEDP. UBS Group upgraded Medpace from a neutral rating to a buy rating and increased their price target for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. StockNews.com upgraded Medpace from a hold rating to a buy rating in a research note on Tuesday. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and increased their price target for the company from $340.00 to $450.00 in a research note on Tuesday. Robert W. Baird increased their price target on Medpace from $446.00 to $454.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a research note on Monday, March 18th. They issued a hold rating and a $395.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $443.00.

Medpace Price Performance

NASDAQ MEDP opened at $395.93 on Wednesday. The business has a fifty day moving average price of $397.83 and a two-hundred day moving average price of $325.15. Medpace has a fifty-two week low of $189.30 and a fifty-two week high of $421.00. The stock has a market capitalization of $12.27 billion, a PE ratio of 40.36, a PEG ratio of 1.94 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.75. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same period in the prior year, the company earned $2.27 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that Medpace will post 11.23 earnings per share for the current year.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Medpace news, VP Susan E. Burwig sold 102 shares of the 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 completion of the sale, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 100,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders sold 189,340 shares of company stock worth $76,651,647 over the last three months. Company insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

A number of large investors have recently bought and sold shares of MEDP. CWM LLC grew its holdings in Medpace by 554.3% during the 3rd quarter. CWM LLC now owns 1,518 shares of the company’s stock worth $368,000 after acquiring an additional 1,286 shares during the period. IFP Advisors Inc grew its stake in shares of Medpace by 144.3% in the 3rd quarter. IFP Advisors Inc now owns 171 shares of the company’s stock valued at $41,000 after buying an additional 101 shares during the period. SG Americas Securities LLC grew its stake in shares of Medpace by 353.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,515 shares of the company’s stock valued at $609,000 after buying an additional 1,960 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Medpace in the 3rd quarter valued at about $105,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Medpace by 20.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,765 shares of the company’s stock valued at $669,000 after buying an additional 465 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.