Medpace (NASDAQ:MEDP) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research note released on Saturday, BidAskClub reports.

MEDP has been the subject of a number of other research reports. ValuEngine cut Medpace from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Credit Suisse Group lifted their price target on Medpace from $65.00 to $77.00 and gave the stock an outperform rating in a research report on Tuesday, July 30th. Zacks Investment Research cut Medpace from a buy rating to a hold rating in a research report on Saturday, October 12th. Finally, SunTrust Banks lifted their price objective on Medpace to $85.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $78.00.

Shares of MEDP opened at $74.97 on Friday. The stock has a 50-day moving average of $81.55 and a two-hundred day moving average of $68.06. Medpace has a one year low of $45.88 and a one year high of $86.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $2.73 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.12 and a beta of 1.55.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.18. Medpace had a return on equity of 17.65% and a net margin of 11.28%. The company had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $200.99 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. Analysts predict that Medpace will post 2.91 EPS for the current fiscal year.

In other Medpace news, General Counsel Stephen P. Ewald sold 8,000 shares of Medpace stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $77.30, for a total transaction of $618,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jesse J. Geiger sold 7,200 shares of Medpace stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $78.03, for a total value of $561,816.00. Following the transaction, the chief financial officer now owns 40,948 shares of the company’s stock, valued at approximately $3,195,172.44. The disclosure for this sale can be found here. Company insiders own 24.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. United Services Automobile Association raised its stake in shares of Medpace by 2.4% during the 2nd quarter. United Services Automobile Association now owns 6,639 shares of the company’s stock valued at $434,000 after buying an additional 155 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Medpace by 1.0% in the 2nd quarter. Jennison Associates LLC now owns 16,760 shares of the company’s stock valued at $1,096,000 after purchasing an additional 162 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Medpace by 2.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,282 shares of the company’s stock valued at $673,000 after purchasing an additional 200 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Medpace by 1.0% in the 2nd quarter. New York State Teachers Retirement System now owns 20,645 shares of the company’s stock valued at $1,351,000 after purchasing an additional 200 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Medpace by 53.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 605 shares of the company’s stock valued at $40,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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