Medpace (NASDAQ:MEDP) Upgraded 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 released on Tuesday.

A number of other brokerages also recently commented on MEDP. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research note on Monday, March 18th. They issued a hold rating and a $395.00 target price on the stock. Robert W. Baird lifted their price target on shares of Medpace from $312.00 to $408.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. UBS Group raised shares of Medpace from a neutral rating to a buy rating and lifted their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and lifted their price target for the stock from $340.00 to $450.00 in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace presently has an average rating of Moderate Buy and an average price target of $443.00.

Medpace Trading Up 1.6 %

Shares of MEDP stock opened at $395.93 on Tuesday. The company’s fifty day simple moving average is $397.83 and its 200-day simple moving average is $325.15. Medpace has a 52 week low of $189.30 and a 52 week high of $421.00. The company has a market cap of $12.27 billion, a PE ratio of 40.36, a P/E/G ratio of 1.94 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 22nd. The company reported $3.20 EPS 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 59.74%. The business had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same quarter last year, the firm posted $2.27 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts expect that Medpace will post 11.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Medpace news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Medpace news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction 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 directly owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 in the last quarter. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEDP. RiverPark Advisors LLC acquired a new position in Medpace during the 4th quarter worth $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Medpace in the 4th quarter valued at about $26,000. Rise Advisors LLC acquired a new position in shares of Medpace in the 1st quarter valued at about $27,000. Mather Group LLC. acquired a new position in shares of Medpace in the 1st quarter valued at about $28,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Medpace in the 3rd quarter valued at about $30,000. 77.98% of the stock is owned by institutional investors and hedge funds.

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.