Medpace (NASDAQ:MEDP) Shares Down 0.6%

Medpace Holdings, Inc. (NASDAQ:MEDP) shares dropped 0.6% during trading on Tuesday . The company traded as low as $395.55 and last traded at $397.98. Approximately 30,243 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 248,001 shares. The stock had previously closed at $400.21.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Guggenheim lifted their target price on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 price target on the stock. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $282.00 to $452.00 in a report on Thursday, February 15th. Finally, Robert W. Baird raised their price objective on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has an average rating of “Moderate Buy” and an average target price of $443.00.

Medpace Trading Down 3.0 %

The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 1.97 and a beta of 1.38. The company’s 50 day simple moving average is $398.00 and its 200-day simple moving average is $327.40.

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

Insider Activity

In other news, 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 transaction, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Susan E. Burwig sold 102 shares of the business’s 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 of the company’s stock, valued at $6,117,943. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the transaction, the insider now owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The disclosure for this sale can be found here. In the last three months, insiders 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 and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Medpace by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after acquiring an additional 148 shares in the last quarter. Portside Wealth Group LLC boosted its position in Medpace by 14.8% in the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after buying an additional 183 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Medpace by 355.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after buying an additional 2,774 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Medpace during the fourth quarter worth approximately $1,992,000. Finally, Chase Investment Counsel Corp raised its stake in shares of Medpace by 3.2% in the third quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after acquiring an additional 301 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.