Zacks Investment Research upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $54.00 price target on the stock.
According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “
Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Medpace from a strong-buy rating to a buy rating in a research report on Wednesday. SunTrust Banks raised shares of Medpace from a hold rating to a buy rating and set a $63.00 price target for the company in a research report on Wednesday. They noted that the move was a valuation call. TheStreet raised shares of Medpace from a c rating to a b- rating in a research report on Friday, August 10th. Credit Suisse Group raised their price target on shares of Medpace from $42.00 to $49.00 and gave the company an outperform rating in a research report on Tuesday, July 31st. Finally, William Blair raised shares of Medpace from a market perform rating to an outperform rating in a research report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Medpace currently has a consensus rating of Buy and a consensus target price of $44.43.
Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Medpace had a net margin of 10.84% and a return on equity of 15.86%. The company had revenue of $179.00 million during the quarter, compared to analysts’ expectations of $175.07 million. During the same quarter last year, the company posted $0.40 EPS. The firm’s revenue was up 44.4% compared to the same quarter last year. Analysts expect that Medpace will post 2.5 EPS for the current fiscal year.
In other news, CEO August J. Troendle sold 114,983 shares of Medpace stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $59.31, for a total transaction of $6,819,641.73. Following the completion of the sale, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at approximately $20,868,282.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Medpace Limited Partnership sold 5,224,997 shares of Medpace stock in a transaction on Monday, August 27th. The stock was sold at an average price of $54.75, for a total transaction of $286,068,585.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,528,016 shares of company stock valued at $634,098,544. Corporate insiders own 29.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL lifted its position in Medpace by 164.1% in the third quarter. Virginia Retirement Systems ET AL now owns 33,800 shares of the company’s stock valued at $2,025,000 after acquiring an additional 21,000 shares during the last quarter. Smith Asset Management Group LP purchased a new stake in Medpace in the third quarter valued at $2,248,000. Wells Fargo & Company MN lifted its position in Medpace by 271.5% in the third quarter. Wells Fargo & Company MN now owns 81,291 shares of the company’s stock valued at $4,871,000 after acquiring an additional 59,409 shares during the last quarter. Comerica Bank purchased a new stake in Medpace in the third quarter valued at $731,000. Finally, US Bancorp DE lifted its position in Medpace by 27.5% in the third quarter. US Bancorp DE now owns 9,211 shares of the company’s stock valued at $552,000 after acquiring an additional 1,987 shares during the last quarter. 39.89% 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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