Medpace (NASDAQ:MEDP) Price Target Raised to $485.00

Key Points

• Analysts at Barclays raised the target price for Medpace from $425.00 to $485.00, indicating a potential downside of 18.90% from the current stock price.
• Medpace reported a quarterly earnings per share (EPS) of $3.86, surpassing analysts' expectations by $0.36, and showed a revenue increase of 23.7% year-over-year.
• Current stock ratings include two 'Buy', ten 'Hold', and four 'Sell', contributing to a consensus rating of 'Reduce' and a consensus price target of $454.40.

Medpace (NASDAQ:MEDP - Get Free Report) had its target price boosted by analysts at Barclays from $425.00 to $485.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's target price would indicate a potential downside of 18.90% from the stock's current price.

Several other brokerages also recently issued reports on MEDP. William Blair reiterated a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. Jefferies Financial Group raised their target price on shares of Medpace from $400.00 to $450.00 and gave the company a "hold" rating in a research note on Tuesday, September 9th. Rothschild Redb downgraded shares of Medpace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Medpace in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $454.40.

Medpace Trading Up 0.2%

Shares of Medpace stock traded up $1.40 during trading hours on Friday, reaching $598.01. 7,435 shares of the company's stock were exchanged, compared to its average volume of 426,607. The company has a 50 day moving average of $500.19 and a two-hundred day moving average of $389.01. Medpace has a fifty-two week low of $250.05 and a fifty-two week high of $625.00. The stock has a market cap of $16.80 billion, a P/E ratio of 41.77, a P/E/G ratio of 3.39 and a beta of 1.40.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, topping analysts' consensus estimates of $3.50 by $0.36. Medpace had a net margin of 18.36% and a return on equity of 81.62%. The company had revenue of $659.90 million during the quarter, compared to the consensus estimate of $640.49 million. During the same period in the prior year, the business posted $3.01 EPS. The company's quarterly revenue was up 23.7% on a year-over-year basis. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. As a group, analysts expect that Medpace will post 12.29 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Cornelius P. Mccarthy III sold 1,662 shares of Medpace stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $465.04, for a total value of $772,896.48. Following the transaction, the director directly owned 10,197 shares of the company's stock, valued at $4,742,012.88. This trade represents a 14.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the sale, the general counsel directly owned 10,343 shares in the company, valued at approximately $4,654,350. The trade was a 22.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,465 shares of company stock valued at $49,720,216. 20.30% of the stock is owned by insiders.

Institutional Trading of Medpace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its stake in shares of Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $29,000 after buying an additional 37 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Medpace by 244.8% during the first quarter. Brooklyn Investment Group now owns 100 shares of the company's stock worth $30,000 after purchasing an additional 71 shares during the period. Whittier Trust Co. lifted its holdings in shares of Medpace by 47.3% during the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after purchasing an additional 35 shares during the period. Employees Retirement System of Texas acquired a new position in shares of Medpace during the second quarter worth $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Medpace during the first quarter worth $60,000. Institutional investors own 77.98% of the company's stock.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.