Medpace (NASDAQ:MEDP) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $450.00 price objective on the stock, up from their previous price objective of $340.00.

Several other equities research analysts also recently commented on the stock. UBS Group upgraded shares of Medpace from a neutral rating to a buy rating and lifted their target price for the stock from $282.00 to $452.00 in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research report on Monday, March 18th. They set a hold rating and a $395.00 target price for the company. Robert W. Baird increased their price target on Medpace from $312.00 to $408.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. Finally, StockNews.com lowered Medpace from a buy rating to a hold rating in a research note on Saturday, March 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Medpace currently has an average rating of Moderate Buy and a consensus target price of $443.00.

Medpace Stock Performance

NASDAQ MEDP opened at $389.77 on Tuesday. The firm’s fifty day moving average price is $397.75 and its two-hundred day moving average price is $324.12. The stock has a market cap of $12.08 billion, a PE ratio of 39.73, a PEG ratio of 1.98 and a beta of 1.38. Medpace has a fifty-two week low of $189.30 and a fifty-two week high of $421.00.

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

Insider Activity at Medpace

In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $391.75, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the sale, the insider now owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock worth $76,651,647 in the last 90 days. Corporate insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

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