A number of other brokerages also recently weighed in on MEDP. SunTrust Banks increased their price target on shares of Medpace to $85.00 and gave the company a buy rating in a research report on Wednesday, July 31st. ValuEngine downgraded shares of Medpace from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Credit Suisse Group increased their price target on shares of Medpace from $65.00 to $77.00 and gave the company an outperform rating in a research report on Tuesday, July 30th. Finally, Zacks Investment Research downgraded shares of Medpace from a buy rating to a hold rating in a research report on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $77.00.
Shares of NASDAQ:MEDP traded up $0.84 during mid-day trading on Friday, reaching $70.92. The stock had a trading volume of 15,204 shares, compared to its average volume of 382,901. The firm has a market cap of $2.53 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51. The firm has a 50 day simple moving average of $77.90 and a two-hundred day simple moving average of $69.58. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.07. Medpace has a twelve month low of $47.20 and a twelve month high of $86.71.
In other Medpace news, General Counsel Stephen P. Ewald sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $77.30, for a total transaction of $618,400.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jesse J. Geiger sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $78.03, for a total transaction of $561,816.00. Following the sale, the chief financial officer now owns 40,948 shares in the company, valued at $3,195,172.44. The disclosure for this sale can be found here. Company insiders own 24.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Pearl River Capital LLC bought a new position in shares of Medpace during the 2nd quarter worth approximately $27,000. FTB Advisors Inc. grew its stake in shares of Medpace by 171.8% during the 2nd quarter. FTB Advisors Inc. now owns 579 shares of the company’s stock worth $37,000 after acquiring an additional 366 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Medpace by 53.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 605 shares of the company’s stock worth $40,000 after acquiring an additional 212 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Medpace by 18.7% during the 2nd quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock worth $95,000 after acquiring an additional 230 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Medpace during the 1st quarter worth approximately $99,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.
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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