Shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Free Report) have been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $649.27.
Several analysts have weighed in on the company. Truist Financial raised their price target on Medpace from $609.00 to $633.00 and gave the company a “hold” rating in a report on Friday. UBS Group boosted their price target on shares of Medpace from $673.00 to $700.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays raised their price target on Medpace from $625.00 to $675.00 and gave the stock an “equal weight” rating in a research report on Friday. TD Cowen lifted their target price on shares of Medpace from $492.00 to $673.00 and gave the stock a “hold” rating in a research note on Friday. Finally, BMO Capital Markets increased their price objective on Medpace from $600.00 to $670.00 and gave the stock a “market perform” rating in a report on Monday.
Check Out Our Latest Report on MEDP
Insider Activity at Medpace
In other Medpace news, CEO August Troendle sold 21,966 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $625.47, for a total value of $13,739,074.02. Following the transaction, the chief executive officer directly owned 338,225 shares of the company’s stock, valued at approximately $211,549,590.75. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 321,402 shares of company stock valued at $199,162,324 in the last three months. Insiders own 20.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Johnson Financial Group Inc. purchased a new stake in Medpace in the 2nd quarter worth about $27,000. Jones Financial Companies Lllp purchased a new stake in Medpace during the second quarter valued at approximately $30,000. Allied Private Wealth LLC acquired a new stake in shares of Medpace in the 2nd quarter worth $31,000. Kilter Group LLC purchased a new stake in shares of Medpace during the second quarter worth about $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Medpace during the 2nd quarter valued at approximately $34,000. 77.98% of the stock is owned by hedge funds and other institutional investors.
Medpace Price Performance
MEDP opened at $676.77 on Friday. Medpace has a fifty-two week low of $373.00 and a fifty-two week high of $684.52. The firm has a market capitalization of $18.89 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 2.90 and a beta of 1.18. The company’s 50 day moving average price is $611.40 and its two-hundred day moving average price is $529.54.
Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.40. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $714.47 million. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $3.86 earnings per share. As a group, equities research analysts predict that Medpace will post 18.06 EPS for the current year.
Medpace Company Profile
Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.
Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.
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