Medpace Holdings Inc (MEDP) Shares Down 2%
Medpace Holdings Inc (NASDAQ:MEDP) shares dropped 2% during mid-day trading on Wednesday . The company traded as low as $29.58 and last traded at $29.82, with a volume of 112,727 shares traded. The stock had previously closed at $30.44.
MEDP has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of Medpace Holdings in a research note on Tuesday, September 6th. Credit Suisse Group AG initiated coverage on Medpace Holdings in a research note on Tuesday, September 6th. They set an “outperform” rating and a $35.00 price target on the stock. Robert W. Baird initiated coverage on Medpace Holdings in a research note on Tuesday, September 6th. They set a “neutral” rating and a $35.00 price target on the stock. Jefferies Group initiated coverage on Medpace Holdings in a research note on Tuesday, September 6th. They set a “hold” rating and a $32.50 price target on the stock. Finally, Wells Fargo & Co. initiated coverage on Medpace Holdings in a research report on Tuesday, September 6th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $34.17.
The company’s market capitalization is $980.24 million. The firm has a 50 day moving average price of $29.16 and a 200-day moving average price of $29.16.
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In related news, insider Susan E. Burwig bought 19,211 shares of the stock in a transaction dated Wednesday, August 17th. The stock was bought at an average cost of $29.21 per share, with a total value of $561,153.31. Following the completion of the acquisition, the insider now owns 1,211 shares of the company’s stock, valued at $35,373.31. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle bought 869,565 shares of the stock in a transaction dated Tuesday, August 16th. The shares were bought at an average cost of $23.00 per share, with a total value of $19,999,995.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,221,416 shares of the company’s stock, valued at approximately $28,092,568. The disclosure for this purchase can be found here.
About Medpace Holdings
Medpace Holdings, Inc is a holding company. The Company operates as a clinical contract research organization (CRO) focused on providing scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. The Company is focused on conducting clinical trials across therapeutic areas, with focus in cardiology, metabolic disease, oncology, endocrinology, central nervous system (CNS), and Anti-Viral and Anti-Infective (AVAI).
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