Medpace (NASDAQ:MEDP) Trading Down 0.5%

Medpace Holdings, Inc. (NASDAQ:MEDP) dropped 0.5% during trading on Wednesday . The stock traded as low as $398.00 and last traded at $400.10. Approximately 34,202 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 246,387 shares. The stock had previously closed at $402.10.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MEDP. Guggenheim upped their target price on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and increased their price objective for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Robert W. Baird increased their price target on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Medpace has a consensus rating of “Moderate Buy” and a consensus target price of $443.00.

Medpace Stock Performance

The company has a 50-day moving average price of $398.00 and a 200-day moving average price of $334.20. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 39.64, a PEG ratio of 1.95 and a beta of 1.40.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same period in the previous year, the company earned $2.27 earnings per share. Medpace’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, research analysts expect that Medpace Holdings, Inc. will post 11.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the transaction, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO August J. Troendle sold 15,102 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the sale, the chief executive officer now owns 791,541 shares in the company, valued at $317,162,563.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total value of $5,404,823.32. Following the completion of the transaction, the insider now owns 5,525,959 shares in the company, valued at approximately $2,135,175,298.01. The disclosure for this sale can be found here. Insiders have sold a total of 204,442 shares of company stock valued at $82,702,867 over the last quarter. Company insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On Medpace

Several hedge funds have recently modified their holdings of MEDP. Commonwealth Equity Services LLC boosted its holdings in shares of Medpace by 20.2% in the third quarter. Commonwealth Equity Services LLC now owns 2,765 shares of the company’s stock valued at $669,000 after acquiring an additional 465 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Medpace by 13.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,755 shares of the company’s stock worth $909,000 after purchasing an additional 440 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Medpace by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,749 shares of the company’s stock worth $1,634,000 after buying an additional 163 shares in the last quarter. Advisor Partners II LLC lifted its holdings in shares of Medpace by 84.9% in the 3rd quarter. Advisor Partners II LLC now owns 1,801 shares of the company’s stock valued at $436,000 after buying an additional 827 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in shares of Medpace in the third quarter valued at approximately $459,000. 77.98% of the stock is owned by institutional investors and hedge funds.

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.