Guggenheim Increases Medpace (NASDAQ:MEDP) Price Target to $464.00

Medpace (NASDAQ:MEDP) had its price objective increased by Guggenheim from $453.00 to $464.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and boosted their target price for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. UBS Group upgraded shares of Medpace from a neutral rating to a buy rating and boosted their target price for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Robert W. Baird lifted their price target on shares of Medpace from $446.00 to $454.00 and gave the company an outperform rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a report on Monday, March 18th. They set a hold rating and a $395.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace currently has an average rating of Moderate Buy and a consensus price target of $443.00.

Medpace Stock Up 1.6 %

Shares of Medpace stock opened at $395.93 on Wednesday. Medpace has a twelve month low of $189.30 and a twelve month high of $421.00. The company has a 50-day simple moving average of $397.83 and a two-hundred day simple moving average of $325.70. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.38.

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 the consensus estimate of $2.45 by $0.75. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.27 EPS. On average, sell-side analysts anticipate 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 that occurred 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 sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Medpace news, major shareholder Medpace Investors, Llc sold 13,988 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the sale, the insider now directly owns 5,525,959 shares of the company’s stock, valued at approximately $2,135,175,298.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan E. Burwig sold 102 shares of the company’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 sale, the vice president now directly owns 15,181 shares in the company, valued at $6,117,943. 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 ninety days. 20.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medpace

Institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Medpace in the 1st quarter valued at $27,000. Mather Group LLC. bought a new stake in shares of Medpace in the 1st quarter valued at $28,000. Contravisory Investment Management Inc. bought a new stake in shares of Medpace in the 4th quarter valued at $26,000. RiverPark Advisors LLC bought a new stake in shares of Medpace in the 4th quarter valued at $26,000. Finally, Arcadia Investment Management Corp MI boosted its stake in shares of 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 last quarter. 77.98% of the stock is owned by institutional investors.

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.