Medpace (NASDAQ:MEDP) Price Target Increased to $464.00 by Analysts at Guggenheim

Medpace (NASDAQ:MEDP - Free Report) had its target price lifted by Guggenheim from $453.00 to $464.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the company. StockNews.com upgraded Medpace from a hold rating to a buy rating in a report on Tuesday. Robert W. Baird boosted their price objective on shares of Medpace from $446.00 to $454.00 and gave the company an outperform rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a research note on Monday, March 18th. They set a hold rating and a $395.00 price objective for the company. UBS Group raised shares of Medpace from a neutral rating to a buy rating and boosted their price objective for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and boosted their price objective for the company from $340.00 to $450.00 in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $443.00.

Medpace Price Performance

MEDP traded down $9.59 during trading on Wednesday, hitting $397.56. The company's stock had a trading volume of 423,395 shares, compared to its average volume of 251,363. The firm's 50 day moving average price is $397.84 and its 200-day moving average price is $323.66. The stock has a market cap of $12.32 billion, a PE ratio of 40.53, a PEG ratio of 1.99 and a beta of 1.38. Medpace has a twelve month low of $189.30 and a twelve month high of $421.00.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.75. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a return on equity of 65.98% and a net margin of 15.92%. Medpace's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.27 EPS. Equities analysts anticipate that Medpace will post 10.53 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ashley M. Keating sold 250 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the sale, the director now directly owns 250 shares of the company's stock, valued at approximately $102,467.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Ashley M. Keating sold 250 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the sale, the director now directly owns 250 shares of the company's stock, valued at approximately $102,467.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 102 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the transaction, the vice president now directly owns 15,181 shares of the company's stock, valued at $6,117,943. The disclosure for this sale can be found here. In the last three months, insiders sold 189,340 shares of company stock valued at $76,651,647. Company insiders own 20.30% of the company's stock.

Hedge Funds Weigh In On Medpace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HMS Capital Management LLC purchased a new position in Medpace in the 1st quarter valued at about $299,000. Dakota Wealth Management raised its stake in shares of Medpace by 1.4% in the 1st quarter. Dakota Wealth Management now owns 7,247 shares of the company's stock valued at $2,929,000 after purchasing an additional 97 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Medpace by 27.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 108,522 shares of the company's stock valued at $43,859,000 after purchasing an additional 23,443 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Medpace by 3.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the company's stock valued at $2,708,000 after purchasing an additional 200 shares in the last quarter. Finally, Origin Asset Management LLP acquired a new stake in shares of Medpace in the 1st quarter valued at about $206,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Company Profile

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.