Medpace Holdings Inc (MEDP) Given Consensus Recommendation of “Buy” by Brokerages
Medpace Holdings Inc (NASDAQ:MEDP) has earned an average recommendation of “Buy” from the five research firms that are currently covering the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $35.00.
Several research firms have recently weighed in on MEDP. Credit Suisse Group AG began coverage on shares of Medpace Holdings in a report on Tuesday, September 6th. They issued an “outperform” rating and a $35.00 price target for the company. William Blair reissued an “outperform” rating on shares of Medpace Holdings in a research report on Tuesday, September 6th. Jefferies Group initiated coverage on shares of Medpace Holdings in a research report on Tuesday, September 6th. They issued a “hold” rating and a $32.50 price objective on the stock. Robert W. Baird initiated coverage on shares of Medpace Holdings in a research report on Tuesday, September 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Wells Fargo & Co. initiated coverage on shares of Medpace Holdings in a research report on Tuesday, September 6th. They issued an “outperform” rating on the stock.
In other news, insider Susan E. Burwig purchased 19,211 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were purchased at an average cost of $29.21 per share, with a total value of $561,153.31. Following the completion of the transaction, the insider now owns 1,211 shares of the company’s stock, valued at approximately $35,373.31. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO August J. Troendle purchased 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were purchased at an average cost of $27.98 per share, for a total transaction of $279,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,221,416 shares of the company’s stock, valued at approximately $34,175,219.68. The disclosure for this purchase can be found here.
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Medpace Holdings (NASDAQ:MEDP) traded down 1.62% during mid-day trading on Tuesday, reaching $29.76. 238,265 shares of the company’s stock traded hands. Medpace Holdings has a 1-year low of $26.51 and a 1-year high of $31.35. The firm’s market cap is $971.43 million. The firm has a 50 day moving average of $29.51 and a 200 day moving average of $29.36.
Medpace Holdings Company Profile
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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