Medpace (NASDAQ:MEDP) Upgraded to Buy at Wall Street Zen

Key Points

• Medpace has been upgraded to a "buy" rating by Wall Street Zen, reflecting increased analyst confidence in the company's performance.
• TD Cowen and Truist Financial adjusted their target prices for Medpace, with Cowen setting it at $462 and Truist at $436, both maintaining a sell and hold rating, respectively.
• Medpace reported a 23.7% year-over-year revenue increase to $659.90 million, with earnings per share of $3.86, surpassing initial estimates.

Medpace (NASDAQ:MEDP - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other research analysts have also recently commented on MEDP. TD Cowen raised their target price on Medpace from $356.00 to $462.00 and gave the company a "sell" rating in a research note on Friday. Cowen reissued a "sell" rating on shares of Medpace in a research report on Friday. Truist Financial boosted their target price on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Zacks Research lowered shares of Medpace from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Barclays lifted their price target on shares of Medpace from $425.00 to $485.00 and gave the company an "underweight" rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $464.00.

Medpace Trading Up 1.4%

Shares of NASDAQ MEDP opened at $605.20 on Friday. The firm has a fifty day simple moving average of $503.13 and a two-hundred day simple moving average of $391.27. Medpace has a 12 month low of $250.05 and a 12 month high of $625.00. The firm has a market capitalization of $17.00 billion, a PE ratio of 42.32, a price-to-earnings-growth ratio of 3.53 and a beta of 1.40.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.36. Medpace had a net margin of 18.36% and a return on equity of 91.88%. The company had revenue of $659.90 million for the quarter, compared to analysts' expectations of $640.49 million. During the same quarter in the previous year, the company earned $3.01 earnings per share. Medpace'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. On average, sell-side analysts predict that Medpace will post 12.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO August J. Troendle sold 36,196 shares of Medpace stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $475.90, for a total value of $17,225,676.40. Following the completion of the sale, the chief executive officer directly owned 925,799 shares in the company, valued at approximately $440,587,744.10. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the general counsel owned 10,343 shares in the company, valued at $4,654,350. This represents a 22.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,465 shares of company stock valued at $49,720,216. 20.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC increased its position in shares of Medpace by 2.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 737 shares of the company's stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. Portside Wealth Group LLC raised its position in Medpace by 2.5% in the second quarter. Portside Wealth Group LLC now owns 1,090 shares of the company's stock worth $342,000 after acquiring an additional 27 shares during the period. M&T Bank Corp boosted its stake in shares of Medpace by 3.4% during the 2nd quarter. M&T Bank Corp now owns 939 shares of the company's stock worth $295,000 after acquiring an additional 31 shares during the last quarter. Whittier Trust Co. grew its position in shares of Medpace by 47.3% during the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after acquiring an additional 35 shares during the period. Finally, PDS Planning Inc increased its stake in shares of Medpace by 1.5% in the 2nd quarter. PDS Planning Inc now owns 2,421 shares of the company's stock worth $760,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Company Profile

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.