Medpace Holdings, Inc. (NASDAQ:MEDP – Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $690.78 and last traded at $683.8710, with a volume of 87,637 shares changing hands. The stock had previously closed at $673.79.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on Medpace from $484.00 to $692.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Truist Financial lifted their target price on Medpace from $609.00 to $633.00 and gave the company a “hold” rating in a research report on Friday. Mizuho set a $730.00 target price on Medpace in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $535.00 price target on shares of Medpace in a research report on Thursday, July 23rd. Finally, BMO Capital Markets raised their price target on shares of Medpace from $600.00 to $670.00 and gave the stock a “market perform” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Medpace currently has an average rating of “Hold” and a consensus target price of $649.27.
Get Our Latest Stock Analysis on Medpace
Medpace Price Performance
The firm has a market cap of $19.17 billion, a P/E ratio of 38.06, a P/E/G ratio of 2.90 and a beta of 1.18. The business’s 50-day moving average is $614.90 and its two-hundred day moving average is $530.18.
Medpace (NASDAQ:MEDP – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.44 by $0.40. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $714.47 million. During the same period in the previous year, the firm posted $3.86 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts predict that Medpace Holdings, Inc. will post 18.06 EPS for the current year.
Insider Buying and Selling at Medpace
In related news, CEO August Troendle sold 49,018 shares of Medpace stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total value of $30,788,695.98. Following the sale, the chief executive officer owned 433,372 shares of the company’s stock, valued at approximately $272,205,286.92. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 321,402 shares of company stock valued at $199,162,324. 20.50% of the stock is owned by company insiders.
Institutional Trading of Medpace
Several institutional investors and hedge funds have recently bought and sold shares of MEDP. BlackRock Inc. acquired a new position in Medpace during the second quarter valued at approximately $1,323,047,000. State Street Corp increased its position in shares of Medpace by 4.2% during the 2nd quarter. State Street Corp now owns 710,895 shares of the company’s stock worth $376,483,000 after purchasing an additional 28,666 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Medpace by 8.3% during the 1st quarter. Renaissance Technologies LLC now owns 504,668 shares of the company’s stock worth $242,337,000 after purchasing an additional 38,760 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Medpace by 5.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company’s stock worth $190,044,000 after purchasing an additional 20,736 shares in the last quarter. Finally, Madison Asset Management LLC bought a new stake in shares of Medpace during the 2nd quarter worth approximately $128,956,000. Institutional investors own 77.98% of the company’s stock.
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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