Zacks Investment Research upgraded shares of Medpace Holdings, Inc. (NASDAQ:MEDP) from a hold rating to a strong-buy rating in a report published on Saturday. The brokerage currently has $38.00 price target on the stock.
According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “
A number of other research analysts have also weighed in on MEDP. Jefferies Group LLC restated a hold rating and issued a $31.00 price objective (up previously from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Credit Suisse Group restated an outperform rating and issued a $36.00 price objective (up previously from $35.00) on shares of Medpace Holdings in a report on Tuesday, June 6th. Finally, ValuEngine lowered Medpace Holdings from a buy rating to a hold rating in a report on Tuesday, May 16th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Medpace Holdings presently has a consensus rating of Buy and an average price target of $34.75.
Shares of Medpace Holdings (NASDAQ:MEDP) opened at 32.13 on Friday. The company’s 50-day moving average is $31.13 and its 200-day moving average is $28.97. The stock has a market cap of $1.27 billion and a P/E ratio of 56.57. Medpace Holdings has a 1-year low of $21.76 and a 1-year high of $38.94.
Medpace Holdings (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. The company had revenue of $94.60 million for the quarter, compared to analyst estimates of $92.71 million. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. Equities analysts expect that Medpace Holdings will post $1.43 EPS for the current fiscal year.
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In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of Medpace Holdings stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total transaction of $60,540,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 25.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new position in shares of Medpace Holdings during the 2nd quarter worth $220,000. Redmile Group LLC purchased a new position in shares of Medpace Holdings during the 2nd quarter worth $6,526,000. State Street Corp raised its holdings in shares of Medpace Holdings by 4.1% during the 2nd quarter. State Street Corp now owns 132,731 shares of the company’s stock worth $3,853,000 after acquiring an additional 5,209 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Medpace Holdings by 1.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 34,690 shares of the company’s stock worth $1,006,000 after acquiring an additional 482 shares during the period. Finally, Tudor Investment Corp ET AL raised its holdings in shares of Medpace Holdings by 81.0% during the 2nd quarter. Tudor Investment Corp ET AL now owns 12,423 shares of the company’s stock worth $360,000 after acquiring an additional 5,559 shares during the period. Institutional investors and hedge funds own 15.98% of the company’s stock.
Medpace Holdings Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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