Guggenheim Increases Medpace (NASDAQ:MEDP) Price Target to $464.00

Medpace (NASDAQ:MEDP) had its target price raised by Guggenheim from $453.00 to $464.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on MEDP. UBS Group raised shares of Medpace from a neutral rating to a buy rating and increased their price target for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and raised their target price for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research note on Monday, March 18th. They issued a hold rating and a $395.00 target price on the stock. Robert W. Baird raised their target price on shares of Medpace from $446.00 to $454.00 and gave the company an outperform rating in a research note on Wednesday. Finally, StockNews.com raised shares of Medpace from a hold rating to a buy rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $443.00.

Medpace Trading Up 1.6 %

Shares of Medpace stock opened at $395.93 on Wednesday. Medpace has a 12-month low of $189.30 and a 12-month high of $421.00. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 1.94 and a beta of 1.38. The company’s 50-day moving average price is $397.83 and its 200-day moving average price is $325.70.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same period in the prior year, the firm posted $2.27 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts predict that Medpace will post 11.23 earnings per share for the current year.

Insiders Place Their Bets

In other Medpace news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Medpace news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the transaction, the insider now directly owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,340 shares of company stock valued at $76,651,647. 20.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Medpace by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after purchasing an additional 148 shares during the last quarter. Portside Wealth Group LLC grew its holdings in shares of Medpace by 14.8% in the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after purchasing an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Medpace by 355.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after purchasing an additional 2,774 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Medpace in the fourth quarter worth approximately $1,992,000. Finally, Chase Investment Counsel Corp grew its holdings in shares of Medpace by 3.2% in the third quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock worth $2,384,000 after purchasing an additional 301 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

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.