Medpace (NASDAQ:MEDP) Rating Lowered to Hold at Zacks Research

Medpace (NASDAQ:MEDP) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts have also weighed in on MEDP. Mizuho set a $660.00 price objective on shares of Medpace in a research note on Friday. Truist Financial set a $555.00 price target on shares of Medpace in a report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Medpace in a research note on Friday, October 31st. Wall Street Zen cut Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Robert W. Baird set a $613.00 price objective on Medpace in a report on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $491.27.

Medpace Price Performance

MEDP opened at $608.43 on Monday. The firm has a 50 day simple moving average of $581.43 and a 200 day simple moving average of $506.43. Medpace has a fifty-two week low of $250.05 and a fifty-two week high of $626.26. The company has a market cap of $17.14 billion, a price-to-earnings ratio of 42.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43.

Medpace (NASDAQ:MEDP) last issued its earnings results on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, beating the consensus estimate of $3.50 by $0.36. Medpace had a net margin of 18.36% and a return on equity of 91.88%. The company had revenue of $659.90 million during the quarter, compared to analysts’ expectations of $640.49 million. During the same quarter in the previous year, the company posted $3.01 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. As a group, analysts expect that Medpace will post 12.29 EPS for the current year.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 59,025 shares of Medpace stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $607.78, for a total value of $35,874,214.50. Following the sale, the chief executive officer directly owned 774,602 shares in the company, valued at $470,787,603.56. This trade represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jesse J. Geiger sold 21,503 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $595.66, for a total transaction of $12,808,476.98. Following the transaction, the president owned 15,000 shares of the company’s stock, valued at $8,934,900. The trade was a 58.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 387,925 shares of company stock valued at $233,386,647 in the last quarter. 20.30% of the stock is currently owned by insiders.

Institutional Trading of Medpace

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of Medpace by 22.1% during the 1st quarter. NewEdge Advisors LLC now owns 1,048 shares of the company’s stock worth $319,000 after purchasing an additional 190 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Medpace by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,817 shares of the company’s stock worth $24,929,000 after buying an additional 3,010 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after buying an additional 37 shares during the last quarter. Voya Investment Management LLC raised its position in Medpace by 7.6% during the first quarter. Voya Investment Management LLC now owns 21,976 shares of the company’s stock worth $6,696,000 after acquiring an additional 1,560 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Medpace in the second quarter valued at $230,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.