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

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

MEDP has been the topic of several other reports. Deutsche Bank Aktiengesellschaft started coverage on Medpace in a research report on Monday, March 18th. They issued a hold rating and a $395.00 price target on the stock. Robert W. Baird raised their price target on Medpace from $312.00 to $408.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and lifted their target price for the stock from $340.00 to $450.00 in a report on Tuesday. Finally, UBS Group upgraded Medpace from a neutral rating to a buy rating and lifted their target price for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $443.00.

Medpace Stock Performance

NASDAQ MEDP opened at $389.77 on Tuesday. The stock has a fifty day moving average of $397.75 and a 200-day moving average of $324.12. The stock has a market capitalization of $12.08 billion, a P/E ratio of 39.73, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. Medpace has a 52 week low of $189.30 and a 52 week high of $421.00.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating 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 company had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same period last year, the firm earned $2.27 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts forecast that Medpace will post 11.23 earnings per share for the current fiscal year.

Insider Transactions at Medpace

In related news, VP Susan E. Burwig sold 102 shares of the company’s 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 owns 15,181 shares in the company, valued at $6,117,943. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the transaction, the director now directly owns 250 shares of the company’s stock, valued at approximately $102,467.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The disclosure for this sale can be found here. Insiders sold 189,340 shares of company stock valued at $76,651,647 over the last three months. Company insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of Medpace by 312.6% during 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 in the last quarter. TD Asset Management Inc lifted its holdings in shares of Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after buying an additional 308,816 shares in the last quarter. Invesco Ltd. increased its position in shares of Medpace by 67.6% in the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock worth $148,159,000 after purchasing an additional 246,775 shares during the last quarter. Norges Bank bought a new position in Medpace during the fourth quarter valued at approximately $59,163,000. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Medpace by 82.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock worth $108,040,000 after purchasing an additional 159,144 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

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.