Medpace (NASDAQ:MEDP) PT Lowered to $434.00 at TD Cowen

Medpace (NASDAQ:MEDP) had its price target trimmed by TD Cowen from $452.00 to $434.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Guggenheim reduced their target price on Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research report on Wednesday. StockNews.com upgraded Medpace from a hold rating to a buy rating in a report on Tuesday, July 23rd. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and raised their price objective for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Robert W. Baird raised their price objective on Medpace from $456.00 to $469.00 and gave the stock an outperform rating in a report on Monday, July 8th. Finally, William Blair restated an outperform rating on shares of Medpace in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $424.14.

Medpace Stock Up 0.3 %

MEDP opened at $381.47 on Wednesday. The firm has a market cap of $11.83 billion, a P/E ratio of 38.89, a PEG ratio of 1.82 and a beta of 1.36. Medpace has a 52 week low of $227.21 and a 52 week high of $459.77. The business’s fifty day simple moving average is $404.32 and its 200 day simple moving average is $382.76.

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

Insider Buying and Selling at Medpace

In other news, CEO August J. Troendle sold 15,102 shares of the business’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 sale, the chief executive officer now owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction on 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 transaction, the chief executive officer now directly owns 660,351 shares in the company, valued at approximately $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 15,102 shares of Medpace 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 transaction, the chief executive officer now owns 791,541 shares in the company, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders have sold 29,621 shares of company stock valued at $11,816,852 in the last quarter. Corporate insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MEDP. Rise Advisors LLC acquired a new stake in Medpace during the first quarter valued at $27,000. Mather Group LLC. acquired a new stake in Medpace during the first quarter valued at $28,000. GAMMA Investing LLC acquired a new stake in Medpace during the fourth quarter valued at $30,000. Fidelis Capital Partners LLC acquired a new stake in Medpace during the first quarter valued at $31,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Medpace during the fourth quarter valued at $33,000. Hedge funds and other 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.