Medpace (NASDAQ:MEDP) Price Target Raised to $485.00

Medpace (NASDAQ:MEDP) had its target price lifted by Barclays from $425.00 to $485.00 in a research note released on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts have also recently issued reports on MEDP. Rothschild Redb cut Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Truist Financial upped their price objective on Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. Robert W. Baird upped their price objective on Medpace from $313.00 to $490.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medpace in a research report on Wednesday, October 8th. Finally, Mizuho upped their price objective on Medpace from $575.00 to $655.00 and gave the company an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Medpace currently has an average rating of “Reduce” and a consensus target price of $464.00.

Medpace Trading Up 1.4%

MEDP stock opened at $605.20 on Friday. The stock has a market capitalization of $17.05 billion, a PE ratio of 42.32, a price-to-earnings-growth ratio of 3.58 and a beta of 1.40. Medpace has a 12-month low of $250.05 and a 12-month high of $625.00. The stock’s 50 day simple moving average is $503.13 and its 200 day simple moving average is $392.69.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.36. The business had revenue of $659.90 million for the quarter, compared to analysts’ expectations of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.01 EPS. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. On average, research analysts predict that Medpace will post 12.29 earnings per share for the current year.

Insider Activity

In other news, VP Susan E. Burwig sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $480.00, for a total value of $4,800,000.00. Following the completion of the sale, the vice president directly owned 57,500 shares in the company, valued at $27,600,000. This represents a 14.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cornelius P. Mccarthy III sold 1,662 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $465.04, for a total value of $772,896.48. Following the completion of the sale, the director owned 10,197 shares of the company’s stock, valued at $4,742,012.88. This trade represents a 14.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,478 shares of company stock valued at $23,093,073 in the last ninety days. 20.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently modified their holdings of MEDP. Mawer Investment Management Ltd. purchased a new stake in shares of Medpace in the 1st quarter worth $212,131,000. Vulcan Value Partners LLC increased its stake in shares of Medpace by 221.6% in the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company’s stock worth $99,159,000 after purchasing an additional 224,578 shares in the last quarter. Norges Bank purchased a new stake in shares of Medpace in the 2nd quarter worth $66,597,000. Clarkston Capital Partners LLC purchased a new stake in shares of Medpace in the 2nd quarter worth $40,569,000. Finally, Bares Capital Management Inc. increased its stake in shares of Medpace by 319.2% in the 2nd quarter. Bares Capital Management Inc. now owns 157,084 shares of the company’s stock worth $49,302,000 after purchasing an additional 119,608 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.