Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Has Average Target Price of $642.91

Medpace Holdings, Inc. (NASDAQ:MEDP) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $649.27.

Several research firms have recently issued reports on MEDP. Truist Financial boosted their target price on Medpace from $609.00 to $633.00 and gave the stock a “hold” rating in a research report on Friday, October 23rd. UBS Group increased their price target on shares of Medpace from $673.00 to $700.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $535.00 price target on shares of Medpace in a research report on Thursday, July 23rd. Jefferies Financial Group reissued a “hold” rating on shares of Medpace in a research note on Monday, September 14th. Finally, BMO Capital Markets boosted their price objective on shares of Medpace from $600.00 to $670.00 and gave the company a “market perform” rating in a report on Monday.

Insider Activity at Medpace

In other news, VP Susan Burwig sold 3,940 shares of Medpace stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $677.00, for a total transaction of $2,667,380.00. Following the transaction, the vice president directly owned 54,012 shares of the company’s stock, valued at $36,566,124. This trade represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO August Troendle sold 21,966 shares of Medpace stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $625.47, for a total transaction of $13,739,074.02. Following the transaction, the chief executive officer directly owned 338,225 shares in the company, valued at approximately $211,549,590.75. This represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 341,402 shares of company stock valued at $212,702,324 in the last ninety days. Insiders own 20.50% of the company’s stock.

Institutional Trading of Medpace

Several hedge funds have recently added to or reduced their stakes in MEDP. BlackRock Inc. acquired a new position in Medpace in the second quarter valued at about $1,323,047,000. Wasatch Advisors LP increased its holdings in shares of Medpace by 19.4% in the first quarter. Wasatch Advisors LP now owns 773,931 shares of the company’s stock worth $371,634,000 after acquiring an additional 125,625 shares in the last quarter. State Street Corp raised its position in shares of Medpace by 4.2% during the second quarter. State Street Corp now owns 710,895 shares of the company’s stock worth $376,483,000 after purchasing an additional 28,666 shares during the period. Renaissance Technologies LLC raised its position in shares of Medpace by 8.3% during the first quarter. Renaissance Technologies LLC now owns 504,668 shares of the company’s stock worth $242,337,000 after purchasing an additional 38,760 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Medpace by 5.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company’s stock worth $190,044,000 after purchasing an additional 20,736 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Up 2.8%

MEDP stock opened at $692.68 on Friday. Medpace has a twelve month low of $373.00 and a twelve month high of $693.97. The company has a market cap of $19.37 billion, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 2.90 and a beta of 1.18. The business’s fifty day moving average is $616.95 and its 200-day moving average is $530.64.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.40. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $714.47 million. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.86 earnings per share. Research analysts anticipate that Medpace will post 18.06 earnings per share for the current fiscal year.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.