Medpace (NASDAQ:MEDP) PT Lowered to $430.00 at Robert W. Baird

Medpace (NASDAQ:MEDP) had its target price reduced by Robert W. Baird from $469.00 to $430.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on MEDP. TD Cowen lowered their price target on Medpace from $452.00 to $434.00 and set a buy rating for the company in a report on Wednesday. StockNews.com raised Medpace from a hold rating to a buy rating in a report on Tuesday, July 23rd. William Blair reissued an outperform rating on shares of Medpace in a report on Tuesday, July 23rd. Jefferies Financial Group raised Medpace from a hold rating to a buy rating and boosted their price target for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Finally, Guggenheim lowered their price target on Medpace from $464.00 to $432.00 and set a buy rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $424.14.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $381.47 on Wednesday. The stock has a market capitalization of $11.83 billion, a PE ratio of 38.89, a P/E/G ratio of 1.82 and a beta of 1.36. The business has a fifty day moving average price of $404.32 and a two-hundred day moving average price of $382.76. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77.

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

Insiders Place Their Bets

In other Medpace news, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the sale, the chief executive officer now owns 660,351 shares in the company, valued at approximately $260,983,922.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Medpace news, CEO August J. Troendle sold 5,695 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the sale, the chief executive officer now owns 654,656 shares in the company, valued at approximately $258,909,901.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the sale, the chief executive officer now owns 660,351 shares in the company, valued at approximately $260,983,922.22. The disclosure for this sale can be found here. Insiders sold a total of 29,621 shares of company stock valued at $11,816,852 in the last 90 days. Corporate insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Medpace by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after purchasing an additional 142,591 shares in the last quarter. Riverbridge Partners LLC boosted its position in shares of Medpace by 7.1% during the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after purchasing an additional 43,197 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after purchasing an additional 107,108 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Medpace by 15.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after purchasing an additional 53,983 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Medpace by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after purchasing an additional 6,137 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

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.