Shares of Medpace Holdings Inc (NASDAQ:MEDP) have been given an average recommendation of “Buy” by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $43.83.
A number of equities analysts have issued reports on the company. Credit Suisse Group upped their target price on Medpace from $42.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised Medpace from a “hold” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a research report on Friday, August 3rd. TheStreet raised Medpace from a “c” rating to a “b-” rating in a research report on Friday, August 10th. William Blair raised Medpace from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 31st. Finally, BidaskClub lowered Medpace from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st.
In related news, major shareholder Medpace Limited Partnership sold 3,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $41.80, for a total transaction of $125,400,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO August J. Troendle sold 731,460 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $59.26, for a total value of $43,346,319.60. Following the sale, the chief executive officer now directly owns 849,621 shares in the company, valued at $50,348,540.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,510,659 shares of company stock worth $758,531,950. Corporate insiders own 29.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Medpace by 32.4% during the 2nd quarter. BlackRock Inc. now owns 1,605,667 shares of the company’s stock valued at $69,043,000 after acquiring an additional 392,792 shares in the last quarter. Acadian Asset Management LLC increased its position in Medpace by 28.2% in the second quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock worth $55,106,000 after buying an additional 282,216 shares during the period. Laurion Capital Management LP acquired a new stake in Medpace in the second quarter worth $29,230,000. Renaissance Technologies LLC increased its position in Medpace by 208.9% in the second quarter. Renaissance Technologies LLC now owns 338,900 shares of the company’s stock worth $14,573,000 after buying an additional 229,200 shares during the period. Finally, UBS Group AG increased its position in Medpace by 2,869.7% in the first quarter. UBS Group AG now owns 323,307 shares of the company’s stock worth $11,286,000 after buying an additional 312,420 shares during the period. 39.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of MEDP traded up $0.58 during trading on Friday, reaching $58.41. The company’s stock had a trading volume of 32,286 shares, compared to its average volume of 935,651. Medpace has a twelve month low of $30.62 and a twelve month high of $63.97. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 1.50 and a beta of 1.00. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.32.
Medpace (NASDAQ:MEDP) last announced its earnings results on Tuesday, July 31st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.19. Medpace had a return on equity of 14.22% and a net margin of 10.44%. The company had revenue of $117.80 million for the quarter, compared to analyst estimates of $104.97 million. During the same period in the prior year, the company posted $0.38 EPS. Medpace’s quarterly revenue was up 24.5% on a year-over-year basis. equities analysts expect that Medpace will post 2.44 earnings per share for the current fiscal year.
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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