Medpace (NASDAQ:MEDP) Reaches New 12-Month High at $424.49

Medpace Holdings, Inc. (NASDAQ:MEDP) reached a new 52-week high during trading on Thursday . The company traded as high as $424.49 and last traded at $424.34, with a volume of 262118 shares trading hands. The stock had previously closed at $405.33.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MEDP. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 target price for the company. Guggenheim boosted their target price on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird boosted their target price on Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, TD Cowen began coverage on Medpace in a report on Wednesday, May 29th. They set a “buy” rating and a $452.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $443.14.

Medpace Stock Performance

The stock has a market cap of $12.76 billion, a PE ratio of 41.98, a PEG ratio of 2.10 and a beta of 1.39. The stock has a fifty day simple moving average of $397.13 and a two-hundred day simple moving average of $366.98.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.75. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.27 EPS. On average, equities analysts predict that Medpace Holdings, Inc. will post 11.29 EPS for the current fiscal year.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 5,695 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO August J. Troendle sold 5,695 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO August J. Troendle sold 4,782 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total value of $1,915,573.56. Following the completion of the transaction, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,621 shares of company stock valued at $11,816,852. 20.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Medpace by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after buying an additional 148 shares in the last quarter. Portside Wealth Group LLC boosted its position in shares of Medpace by 14.8% in the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after purchasing an additional 183 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Medpace by 355.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock valued at $1,090,000 after purchasing an additional 2,774 shares during the period. Norden Group LLC grew its stake in Medpace by 207.8% during the 4th quarter. Norden Group LLC now owns 5,014 shares of the company’s stock valued at $1,537,000 after acquiring an additional 3,385 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its stake in Medpace by 155.0% during the 4th quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock valued at $69,409,000 after acquiring an additional 137,632 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and 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 services.