Medpace (NASDAQ:MEDP) Price Target Raised to $454.00 at Robert W. Baird

Medpace (NASDAQ:MEDP) had its target price hoisted by Robert W. Baird from $446.00 to $454.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently commented on the stock. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a report on Tuesday. UBS Group raised shares of Medpace from a neutral rating to a buy rating and upped their price target for the stock from $282.00 to $452.00 in a research report on Thursday, February 15th. Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and increased their target price for the company from $340.00 to $450.00 in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research note on Monday, March 18th. They set a hold rating and a $395.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $443.00.

Medpace Stock Down 2.4 %

Medpace stock opened at $397.56 on Wednesday. The company’s 50-day moving average price is $397.84 and its 200-day moving average price is $323.66. Medpace has a twelve month low of $189.30 and a twelve month high of $421.00. The company has a market cap of $12.32 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last posted its 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. 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 previous year, the firm posted $2.27 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that Medpace will post 11.13 earnings per share for the current fiscal year.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Medpace Investors, Llc sold 50,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the sale, the insider now directly owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock worth $76,651,647 over the last 90 days. 20.30% of the stock is currently owned by company insiders.

Institutional Trading of Medpace

A number of hedge funds have recently added to or reduced their stakes in MEDP. RiverPark Advisors LLC purchased a new stake in Medpace during the fourth quarter worth $26,000. Contravisory Investment Management Inc. purchased a new position in Medpace during the fourth quarter valued at $26,000. Rise Advisors LLC purchased a new position in Medpace during the first quarter valued at $27,000. Mather Group LLC. purchased a new position in Medpace during the first quarter valued at $28,000. Finally, FinTrust Capital Advisors LLC purchased a new position in Medpace during the third quarter valued at $30,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

About Medpace

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.