Medpace (NASDAQ:MEDP) Now Covered by Truist Financial

Truist Financial initiated coverage on shares of Medpace (NASDAQ:MEDP) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $415.00 target price on the stock.

MEDP has been the topic of a number of other research reports. William Blair restated an outperform rating on shares of Medpace in a report on Tuesday, July 23rd. Guggenheim reduced their price target on Medpace from $464.00 to $432.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Medpace from $395.00 to $336.00 and set a hold rating on the stock in a report on Wednesday, July 24th. TD Cowen lowered their target price on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Finally, Robert W. Baird reduced their price objective on Medpace from $469.00 to $430.00 and set an outperform rating for the company in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Medpace has a consensus rating of Moderate Buy and a consensus price target of $423.00.

Medpace Stock Down 4.6 %

Shares of Medpace stock traded down $17.40 on Thursday, hitting $359.60. 21,323 shares of the company traded hands, compared to its average volume of 244,239. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The company has a market cap of $11.15 billion, a PE ratio of 38.43, a PEG ratio of 2.00 and a beta of 1.36. The company has a 50-day moving average price of $403.18 and a 200 day moving average price of $386.80.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. The company had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 EPS. Equities research analysts anticipate that Medpace will post 11.66 EPS for the current year.

Insider Activity

In other Medpace news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total value of $1,915,573.56. Following the transaction, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the completion of the sale, the chief executive officer now owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 5,695 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 654,656 shares in the company, valued at approximately $258,909,901.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,519 shares of company stock worth $5,765,631. Insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 worth $783,626,000 after buying an additional 142,591 shares during the period. Riverbridge Partners LLC grew its holdings in Medpace by 7.1% during the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock worth $199,975,000 after acquiring an additional 43,197 shares during the period. TD Asset Management Inc raised 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 acquiring an additional 107,108 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Medpace by 15.3% in 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 during the period. Finally, Bessemer Group Inc. boosted its position in shares of Medpace by 1.6% in the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after purchasing an additional 6,137 shares during the last quarter. 77.98% of the stock is owned by 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.