Medpace (NASDAQ:MEDP) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of Medpace (NASDAQ:MEDP) from a hold rating to a sell rating in a report published on Saturday, BidAskClub reports.

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.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. The business had revenue of $216.20 million for the quarter, compared to the consensus estimate of $217.14 million. Medpace had a net margin of 11.35% and a return on equity of 17.06%. Medpace’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. On average, equities analysts anticipate that Medpace will post 2.92 EPS for the current fiscal year.

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.

About Medpace

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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