Medpace (NASDAQ:MEDP) Trading 1.3% Higher

Medpace Holdings, Inc. (NASDAQ:MEDP)’s share price rose 1.3% on Friday . The company traded as high as $399.90 and last traded at $396.12. Approximately 25,535 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 248,100 shares. The stock had previously closed at $391.07.

Wall Street Analysts Forecast Growth

MEDP has been the topic of a number of analyst reports. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and lifted their price target for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a research note on Monday, March 18th. They set a “hold” rating and a $395.00 target price for the company. 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 research note on Wednesday, April 24th. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $282.00 to $452.00 in a research report on Thursday, February 15th. Finally, StockNews.com upgraded shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Medpace has a consensus rating of “Moderate Buy” and a consensus target price of $443.00.

Medpace Stock Performance

The company has a 50 day moving average of $398.08 and a 200 day moving average of $331.07. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 40.02, a P/E/G ratio of 1.95 and a beta of 1.40.

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. 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 company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.27 earnings per share. On average, equities analysts predict that Medpace Holdings, Inc. will post 11.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 100,000 shares of the company’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 directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction dated 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 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 204,442 shares of company stock valued at $82,702,867 in the last ninety days. 20.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEDP. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Medpace by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after purchasing an additional 148 shares during the period. Portside Wealth Group LLC increased its position in shares of Medpace by 14.8% during the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after acquiring an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Medpace by 355.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock valued at $1,090,000 after acquiring an additional 2,774 shares during the period. Norden Group LLC raised its stake in shares of Medpace by 207.8% in the 4th quarter. Norden Group LLC now owns 5,014 shares of the company’s stock valued at $1,537,000 after acquiring an additional 3,385 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Medpace by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 62,106 shares of the company’s stock worth $19,037,000 after acquiring an additional 204 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other 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.