Medpace (NASDAQ:MEDP) had its target price lifted by Credit Suisse Group from $92.00 to $114.00 in a research note issued to investors on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price target indicates a potential upside of 1.50% from the stock’s previous close.
Several other equities research analysts also recently commented on MEDP. Zacks Investment Research raised Medpace from a “sell” rating to a “hold” rating in a report on Wednesday, May 20th. Robert W. Baird raised Medpace from an “underperform” rating to a “neutral” rating and set a $83.00 price objective for the company in a report on Monday, June 8th. SunTrust Banks raised Medpace from a “sell” rating to a “hold” rating and increased their price objective for the company from $54.00 to $85.00 in a report on Thursday, April 30th. Wolfe Research downgraded Medpace from an “outperform” rating to a “peer perform” rating and set a $91.00 price objective for the company. in a report on Wednesday, May 13th. Finally, BidaskClub raised Medpace from a “hold” rating to a “buy” rating in a report on Friday, July 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $94.29.
NASDAQ:MEDP opened at $112.32 on Tuesday. Medpace has a twelve month low of $58.72 and a twelve month high of $114.12. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $94.55 and a two-hundred day moving average price of $88.03. The company has a market cap of $3.74 billion, a P/E ratio of 38.73 and a beta of 1.22.
Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 27th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.28. Medpace had a return on equity of 17.18% and a net margin of 12.37%. The firm had revenue of $205.00 million during the quarter, compared to the consensus estimate of $181.17 million. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s revenue was down 4.3% on a year-over-year basis. As a group, analysts anticipate that Medpace will post 2.36 earnings per share for the current fiscal year.
In other Medpace news, major shareholder Medpace Investors, Llc sold 6,127 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $100.50, for a total transaction of $615,763.50. Following the transaction, the insider now owns 7,788,311 shares in the company, valued at approximately $782,725,255.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO August J. Troendle sold 28,700 shares of the stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $104.90, for a total value of $3,010,630.00. Following the transaction, the chief executive officer now owns 616,643 shares in the company, valued at approximately $64,685,850.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,574 shares of company stock worth $35,865,333. 26.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Medpace during the first quarter worth about $99,000. FMR LLC increased its position in shares of Medpace by 6,709.3% during the first quarter. FMR LLC now owns 37,247 shares of the company’s stock worth $2,196,000 after purchasing an additional 36,700 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Medpace by 3.1% during the fourth quarter. Guggenheim Capital LLC now owns 4,268 shares of the company’s stock worth $359,000 after purchasing an additional 128 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Medpace by 2.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 28,703 shares of the company’s stock worth $2,413,000 after purchasing an additional 628 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Medpace during the fourth quarter worth $261,000. 79.83% of the stock is currently owned by institutional investors.
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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