Medpace (NASDAQ:MEDP) Price Target Raised to $454.00

Medpace (NASDAQ:MEDP) had its target price increased by equities researchers at Robert W. Baird from $446.00 to $454.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 11.51% from the company’s previous close.

A number of other equities analysts have also recently weighed in on MEDP. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 price target for the company. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and increased their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and increased their target price for the stock from $340.00 to $450.00 in a research note on Tuesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace currently has an average rating of “Moderate Buy” and a consensus price target of $404.80.

Medpace Stock Up 8.2 %

Shares of NASDAQ:MEDP opened at $407.15 on Wednesday. The business has a fifty day moving average of $397.68 and a two-hundred day moving average of $323.14. The stock has a market cap of $12.61 billion, a P/E ratio of 41.50, a PEG ratio of 1.99 and a beta of 1.38. Medpace has a 52-week low of $187.03 and a 52-week high of $419.42.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a return on equity of 65.98% and a net margin of 15.92%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.27 EPS. On average, equities analysts anticipate that Medpace will post 10.53 earnings per share for the current year.

Insider Buying and Selling at Medpace

In other Medpace news, VP Susan E. Burwig sold 102 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ashley M. Keating sold 250 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the transaction, the director now owns 250 shares in the company, valued at approximately $102,467.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Susan E. Burwig sold 102 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the transaction, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 in the last quarter. Corporate insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MEDP. RiverPark Advisors LLC purchased a new position in Medpace during the 4th quarter worth approximately $26,000. Contravisory Investment Management Inc. purchased a new position in Medpace during the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in Medpace during the 1st quarter worth approximately $27,000. Mather Group LLC. purchased a new position in shares of Medpace in the 1st quarter valued at approximately $28,000. Finally, FinTrust Capital Advisors LLC purchased a new position in shares of Medpace in the 3rd quarter valued at approximately $30,000. Hedge funds and other 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.