Robert W. Baird Increases Medpace (NASDAQ:MEDP) Price Target to $454.00

Medpace (NASDAQ:MEDP) had its price objective boosted by Robert W. Baird from $446.00 to $454.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research report on Monday, March 18th. They issued a hold rating and a $395.00 price target on the stock. UBS Group upgraded Medpace from a neutral rating to a buy rating and upped their price target for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and upped their price target for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Finally, StockNews.com upgraded Medpace from a hold rating to a buy rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $443.00.

Medpace Trading Up 1.6 %

MEDP opened at $395.93 on Wednesday. The stock has a market cap of $12.27 billion, a PE ratio of 40.36, a P/E/G ratio of 1.97 and a beta of 1.38. Medpace has a 1 year low of $189.30 and a 1 year high of $421.00. The stock’s 50 day simple moving average is $397.83 and its 200-day simple moving average is $325.70.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $512.39 million. During the same period in the previous year, the business posted $2.27 earnings per share. Medpace’s quarterly revenue was up 17.7% on a year-over-year basis. Equities analysts forecast that Medpace will post 11.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medpace 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 value of $41,106.00. Following the transaction, the vice president now owns 15,181 shares of the company’s stock, valued at $6,117,943. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Susan E. Burwig sold 102 shares of the company’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 transaction, the vice president now 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 is available at this hyperlink. Also, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were 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 directly owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,340 shares of company stock valued at $76,651,647. 20.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medpace

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after acquiring an additional 142,591 shares during the period. Riverbridge Partners LLC lifted its stake in Medpace by 7.1% in the fourth quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after buying an additional 43,197 shares during the period. Invesco Ltd. lifted its stake in Medpace by 67.6% in the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after buying an additional 246,775 shares during the period. TD Asset Management Inc lifted its stake in Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after buying an additional 308,816 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Medpace by 312.6% in the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after buying an additional 319,210 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.