Medpace (NASDAQ:MEDP) Reaches New 12-Month High Following Analyst Upgrade

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) reached a new 52-week high during trading on Wednesday after Robert W. Baird raised their price target on the stock from $446.00 to $454.00. Robert W. Baird currently has an outperform rating on the stock. Medpace traded as high as $421.00 and last traded at $415.94, with a volume of 65400 shares changing hands. The stock had previously closed at $407.15.

A number of other analysts have also commented on the company. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and lifted their price target for the company from $340.00 to $450.00 in a research note on Tuesday. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 target price for the company. Finally, UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and raised their price target for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $404.80.

Insider Buying and Selling at Medpace

In other Medpace news, CEO August J. Troendle sold 100,000 shares of the business’s 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 transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 25,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $408.71, for a total value of $10,217,750.00. Following the transaction, the chief executive officer now directly owns 4,733,019 shares of the company’s stock, valued at $1,934,432,195.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,340 shares of company stock worth $76,651,647. Corporate insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

A number of institutional investors have recently added to or reduced their stakes in MEDP. Arcadia Investment Management Corp MI boosted its holdings in Medpace by 40.3% in the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 29 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Medpace by 1.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,075 shares of the company’s stock valued at $943,000 after buying an additional 39 shares during the period. Schulhoff & Co. Inc. grew its position in Medpace by 2.0% during the third quarter. Schulhoff & Co. Inc. now owns 2,250 shares of the company’s stock worth $545,000 after buying an additional 45 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in Medpace by 5.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 954 shares of the company’s stock worth $292,000 after acquiring an additional 45 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Medpace by 43.3% in the 1st quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock valued at $60,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

The stock has a market cap of $12.80 billion, a P/E ratio of 41.50, a P/E/G ratio of 1.99 and a beta of 1.38. The stock has a 50-day moving average price of $397.68 and a 200-day moving average price of $323.14.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The business had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same period last year, the firm posted $2.27 earnings per share. Medpace’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

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.