Analysts Set Medpace Holdings, Inc. (NASDAQ:MEDP) Price Target at $443.14

Medpace Holdings, Inc. (NASDAQ:MEDP) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $443.14.

Several brokerages recently weighed in on MEDP. TD Cowen assumed coverage on Medpace in a research note on Wednesday, May 29th. They set a “buy” rating and a $452.00 target price on the stock. Robert W. Baird upped their price objective on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Guggenheim upped their price target on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd.

Insider Transactions at Medpace

In related news, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO August J. Troendle sold 5,695 shares of Medpace stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the completion of the transaction, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders have sold 29,621 shares of company stock worth $11,816,852 over the last 90 days. 20.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently modified their holdings of the business. Deutsche Bank AG lifted its position in shares of Medpace by 72.4% during the 3rd quarter. Deutsche Bank AG now owns 5,397 shares of the company’s stock valued at $1,307,000 after buying an additional 2,267 shares in the last quarter. LPL Financial LLC lifted its holdings in Medpace by 115.3% during the third quarter. LPL Financial LLC now owns 23,116 shares of the company’s stock valued at $5,600,000 after purchasing an additional 12,380 shares in the last quarter. Stifel Financial Corp lifted its holdings in Medpace by 58.6% during the third quarter. Stifel Financial Corp now owns 24,254 shares of the company’s stock valued at $5,873,000 after purchasing an additional 8,965 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Medpace by 164.6% in the third quarter. Federated Hermes Inc. now owns 29,075 shares of the company’s stock valued at $7,040,000 after purchasing an additional 18,088 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Medpace by 4.0% during the third quarter. Northern Trust Corp now owns 241,202 shares of the company’s stock worth $58,402,000 after purchasing an additional 9,192 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Performance

MEDP stock opened at $411.85 on Wednesday. Medpace has a one year low of $227.21 and a one year high of $437.39. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 2.04 and a beta of 1.39. The firm has a 50-day simple moving average of $397.13 and a two-hundred day simple moving average of $368.04.

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

About Medpace

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.