Guggenheim Increases Medpace (NASDAQ:MEDP) Price Target to $464.00

Medpace (NASDAQ:MEDP) had its price target lifted by research analysts at Guggenheim from $453.00 to $464.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 17.34% from the company’s previous close.

MEDP has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target for the company. Robert W. Baird raised their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and raised their price objective for the stock from $340.00 to $450.00 in a report on Tuesday. UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. Finally, StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $443.00.

Medpace Stock Performance

Shares of MEDP traded down $11.73 during trading hours on Wednesday, reaching $395.42. 231,521 shares of the company traded hands, compared to its average volume of 248,864. Medpace has a 1-year low of $189.30 and a 1-year high of $421.00. The stock has a market cap of $12.25 billion, a P/E ratio of 40.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. The stock’s fifty day moving average is $397.68 and its 200 day moving average is $323.14.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The firm had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. During the same quarter in the prior year, the business posted $2.27 earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts predict that Medpace will post 10.53 EPS for the current year.

Insider Activity

In other Medpace news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Medpace news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the transaction, the insider now directly owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 over the last three months. 20.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Medpace

A number of hedge funds and other institutional investors have recently made changes to their positions in MEDP. Arcadia Investment Management Corp MI increased its stake in Medpace by 40.3% in the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock valued at $41,000 after buying an additional 29 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in Medpace by 1.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,075 shares of the company’s stock valued at $943,000 after buying an additional 39 shares during the last quarter. Schulhoff & Co. Inc. increased its stake in Medpace by 2.0% in the 3rd quarter. Schulhoff & Co. Inc. now owns 2,250 shares of the company’s stock valued at $545,000 after buying an additional 45 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Medpace by 5.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 954 shares of the company’s stock valued at $292,000 after buying an additional 45 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Medpace by 43.3% in the 1st quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock valued at $60,000 after buying an additional 45 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

About Medpace

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.