Medpace (NASDAQ:MEDP) Price Target Lowered to $432.00 at Guggenheim

Medpace (NASDAQ:MEDP) had its target price reduced by equities researchers at Guggenheim from $464.00 to $432.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 13.53% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. TD Cowen initiated coverage on Medpace in a report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 price target on the stock. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and increased their target price for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird raised their price target on shares of Medpace from $456.00 to $469.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.14.

Medpace Stock Down 0.4 %

Shares of MEDP opened at $380.50 on Wednesday. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The company has a market cap of $11.79 billion, a PE ratio of 38.79, a P/E/G ratio of 1.76 and a beta of 1.36. The business has a fifty day moving average of $404.55 and a 200 day moving average of $381.65.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 59.91%. The firm had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same quarter last year, the business earned $1.93 EPS. The business’s revenue was up 14.6% on a year-over-year basis. As a group, research analysts anticipate that Medpace will post 11.33 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the sale, the chief executive officer now owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the sale, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,621 shares of company stock worth $11,816,852. 20.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medpace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEDP. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Medpace by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after purchasing an additional 148 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Medpace during the first quarter worth $2,222,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Medpace by 355.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock valued at $1,090,000 after buying an additional 2,774 shares during the last quarter. Norden Group LLC increased its position 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, Mirae Asset Global Investments Co. Ltd. purchased a new position in Medpace in the 1st quarter worth $5,179,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

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.