Mizuho Increases Medpace (NASDAQ:MEDP) Price Target to $655.00

Key Points

• Mizuho increased its price target for Medpace (NASDAQ:MEDP) from $575.00 to $655.00, indicating a potential upside of 10.01% based on the stock's previous close.
• Medpace's stock has seen significant support from several analysts, with the average rating described as "Reduce" and a consensus target price of $438.60.
• The company reported a strong quarterly performance, posting earnings of $3.86 per share and revenue of $659.90 million, outperforming consensus estimates.

Medpace (NASDAQ:MEDP - Get Free Report) had its target price increased by research analysts at Mizuho from $575.00 to $655.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price objective would indicate a potential upside of 10.01% from the stock's previous close.

Several other equities research analysts also recently commented on MEDP. Jefferies Financial Group raised their target price on Medpace from $400.00 to $450.00 and gave the company a "hold" rating in a report on Tuesday, September 9th. Barclays raised their price objective on Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Rothschild Redb lowered Medpace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Truist Financial lifted their target price on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Finally, TD Cowen reiterated a "sell" rating and issued a $366.00 target price (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $438.60.

Medpace Stock Up 8.9%

MEDP opened at $595.43 on Friday. The business's fifty day simple moving average is $500.19 and its 200 day simple moving average is $389.01. Medpace has a 52 week low of $250.05 and a 52 week high of $625.00. The firm has a market cap of $16.73 billion, a P/E ratio of 41.65, a PEG ratio of 3.39 and a beta of 1.40.

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

Insiders Place Their Bets

In other news, 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 value of $1,350,000.00. Following the sale, the general counsel owned 10,343 shares of the company's stock, valued at approximately $4,654,350. The trade was a 22.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cornelius P. Mccarthy III sold 1,662 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $465.04, for a total value of $772,896.48. Following the completion of the sale, the director directly owned 10,197 shares in the company, valued at $4,742,012.88. This represents a 14.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,465 shares of company stock worth $49,720,216 over the last 90 days. Insiders own 20.30% of the company's stock.

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently modified their holdings of MEDP. Mawer Investment Management Ltd. acquired a new position in shares of Medpace in the 1st quarter worth $212,131,000. Vulcan Value Partners LLC grew its holdings in shares of Medpace by 221.6% in the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company's stock worth $99,159,000 after acquiring an additional 224,578 shares during the last quarter. Norges Bank acquired a new position in shares of Medpace in the 2nd quarter worth $66,597,000. Clarkston Capital Partners LLC acquired a new position in shares of Medpace in the 2nd quarter worth $40,569,000. Finally, Bares Capital Management Inc. grew its holdings in shares of Medpace by 319.2% in the 2nd quarter. Bares Capital Management Inc. now owns 157,084 shares of the company's stock worth $49,302,000 after acquiring an additional 119,608 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.

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