Medpace (NASDAQ:MEDP) Sets New 52-Week High After Analyst Upgrade

Medpace Holdings, Inc. (NASDAQ:MEDP)’s share price hit a new 52-week high during mid-day trading on Wednesday after Guggenheim raised their price target on the stock from $453.00 to $464.00. Guggenheim currently has a buy rating on the stock. Medpace traded as high as $421.00 and last traded at $415.94, with a volume of 65400 shares. The stock had previously closed at $407.15.

Several other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. Robert W. Baird boosted their price objective on Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 price objective for the company. Finally, Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $340.00 to $450.00 in a report 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 currently has a consensus rating of “Moderate Buy” and an average target price of $443.00.

Insider Buying and Selling

In related news, VP Susan E. Burwig sold 102 shares of the stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is available through the SEC website. In related news, VP Susan E. Burwig sold 102 shares of the stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is available through the SEC website. Also, Director Ashley M. Keating sold 250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the transaction, the director now directly owns 250 shares of the company’s stock, valued at approximately $102,467.50. 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. 20.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medpace

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Medpace by 312.6% in the 3rd 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 last quarter. TD Asset Management Inc boosted its holdings in shares of Medpace by 195.2% in the 4th 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 last quarter. Invesco Ltd. raised its stake in Medpace by 67.6% in the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after acquiring an additional 246,775 shares during the period. Norges Bank bought a new stake in Medpace in the 4th quarter valued at $59,163,000. Finally, Epoch Investment Partners Inc. raised its stake in Medpace by 82.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after acquiring an additional 159,144 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Trading Down 2.0 %

The business has a 50 day moving average of $397.75 and a two-hundred day moving average of $324.12. The firm has a market cap of $12.08 billion, a P/E ratio of 39.73, a PEG ratio of 2.04 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share 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 quarter in the prior year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts predict that Medpace Holdings, Inc. will post 11.13 EPS for the current year.

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.