Medpace (NASDAQ:MEDP) Sets New 52-Week High After Analyst Upgrade

Medpace Holdings, Inc. (NASDAQ:MEDP) reached a new 52-week high during mid-day trading on Wednesday after Guggenheim raised their price target on the stock from $453.00 to $464.00. Guggenheim currently has a buy rating on the stock. Medpace traded as high as $421.00 and last traded at $415.94, with a volume of 65400 shares. The stock had previously closed at $407.15.

A number of other brokerages have also recently issued reports on MEDP. Robert W. Baird increased their target price on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and increased their target price for the company from $340.00 to $450.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price for the company. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and increased their target price for the company from $282.00 to $452.00 in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $443.00.

Insider Activity

In other news, major shareholder Medpace Investors, Llc sold 13,988 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total value of $5,404,823.32. Following the transaction, the insider now owns 5,525,959 shares of the company’s stock, valued at approximately $2,135,175,298.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Medpace Investors, Llc sold 13,988 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total value of $5,404,823.32. Following the transaction, the insider now owns 5,525,959 shares of the company’s stock, valued at approximately $2,135,175,298.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction on 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 directly owns 15,181 shares in the company, valued at approximately $6,117,943. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,340 shares of company stock valued at $76,651,647. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new position in Medpace during the 1st quarter worth $27,000. Mather Group LLC. acquired a new position in Medpace during the 1st quarter worth $28,000. Contravisory Investment Management Inc. acquired a new position in Medpace during the 4th quarter worth $26,000. RiverPark Advisors LLC acquired a new position in Medpace during the 4th quarter worth $26,000. Finally, Arcadia Investment Management Corp MI grew its holdings in Medpace by 40.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after acquiring an additional 29 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Performance

The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The company’s fifty day simple moving average is $397.75 and its two-hundred day simple moving average is $324.12.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data 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 net margin of 15.92% and a return on equity of 59.74%. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. During the same period last year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.13 EPS for the current year.

About Medpace

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.