Medpace (NASDAQ:MEDP) Price Target Cut to $336.00 by Analysts at Deutsche Bank Aktiengesellschaft

Medpace (NASDAQ:MEDP) had its price objective cut by Deutsche Bank Aktiengesellschaft from $395.00 to $336.00 in a report released on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also issued reports on MEDP. Guggenheim lowered their target price on shares of Medpace from $464.00 to $432.00 and set a buy rating for the company in a research note on Wednesday. Mizuho initiated coverage on shares of Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 target price for the company. Robert W. Baird upped their price objective 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. Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and upped their price objective for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Finally, TD Cowen lowered their price objective on shares of Medpace from $452.00 to $434.00 and set a buy rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Medpace presently has an average rating of Moderate Buy and a consensus target price of $424.14.

Medpace Stock Up 0.3 %

MEDP stock opened at $381.47 on Wednesday. Medpace has a twelve month low of $227.21 and a twelve month high of $459.77. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.36. The firm’s fifty day simple moving average is $404.32 and its two-hundred day simple moving average is $382.18.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the previous year, the business posted $1.93 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts expect that Medpace will post 11.69 EPS for the current year.

Insider Buying and Selling at Medpace

In other news, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the transaction, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the transaction, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the transaction, the chief executive officer now owns 791,541 shares in the company, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,621 shares of company stock valued at $11,816,852. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medpace

Several hedge funds and other institutional investors have recently bought and sold shares of MEDP. Rise Advisors LLC acquired a new stake in Medpace in the 1st quarter valued at $27,000. Mather Group LLC. acquired a new stake in Medpace in the 1st quarter valued at $28,000. GAMMA Investing LLC acquired a new stake in Medpace in the 4th quarter valued at $30,000. Fidelis Capital Partners LLC acquired a new stake in Medpace in the 1st quarter valued at $31,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Medpace in the 4th quarter valued at $33,000. Institutional investors and hedge funds 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.