Medpace (MEDP) Upgraded to “Strong-Buy” by BidaskClub

Medpace (NASDAQ:MEDP) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

MEDP has been the subject of several other reports. Zacks Investment Research upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, July 3rd. Credit Suisse Group raised their price objective on shares of Medpace from $42.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. William Blair upgraded shares of Medpace from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 31st. Finally, TheStreet upgraded shares of Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Medpace presently has an average rating of “Buy” and a consensus price target of $43.83.

Shares of MEDP opened at $62.32 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.32. Medpace has a one year low of $30.62 and a one year high of $63.99. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 1.60 and a beta of 1.00.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Tuesday, July 31st. The company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.19. Medpace had a net margin of 10.44% and a return on equity of 14.22%. The business had revenue of $117.80 million during the quarter, compared to analyst estimates of $104.97 million. During the same period last year, the business posted $0.38 earnings per share. Medpace’s quarterly revenue was up 24.5% compared to the same quarter last year. sell-side analysts predict that Medpace will post 2.44 EPS for the current fiscal year.

In other Medpace news, CEO August J. Troendle sold 731,460 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $59.26, for a total transaction of $43,346,319.60. Following the completion of the transaction, the chief executive officer now owns 849,621 shares of the company’s stock, valued at $50,348,540.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Medpace Limited Partnership sold 5,175,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $54.35, for a total transaction of $281,261,250.00. The disclosure for this sale can be found here. Insiders have sold 11,510,659 shares of company stock valued at $633,131,950 in the last ninety days. Insiders own 29.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Medpace during the second quarter valued at approximately $107,000. Metropolitan Life Insurance Co. NY increased its position in shares of Medpace by 57.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 4,144 shares of the company’s stock valued at $178,000 after acquiring an additional 1,507 shares in the last quarter. Sei Investments Co. increased its position in shares of Medpace by 5,087.5% during the second quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock valued at $196,000 after acquiring an additional 4,477 shares in the last quarter. CAPROCK Group Inc. bought a new stake in shares of Medpace during the second quarter valued at approximately $223,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Medpace during the second quarter valued at approximately $223,000. 39.30% of the stock is owned by institutional investors and hedge funds.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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Analyst Recommendations for Medpace (NASDAQ:MEDP)

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