Medpace (NASDAQ:MEDP) Upgraded by Jefferies Financial Group to Buy

Jefferies Financial Group upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat reports. Jefferies Financial Group currently has $450.00 target price on the stock, up from their previous target price of $340.00.

MEDP has been the subject of several other reports. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a report on Monday, March 18th. They issued a hold rating and a $395.00 target price for the company. StockNews.com cut shares of Medpace from a buy rating to a hold rating in a research note on Saturday, March 23rd. Robert W. Baird lifted their target price on shares of Medpace from $312.00 to $408.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Finally, UBS Group upgraded shares of Medpace from a neutral rating to a buy rating and upped their price target for the company from $282.00 to $452.00 in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $395.60.

Medpace Stock Up 8.2 %

MEDP stock opened at $407.15 on Tuesday. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 45.85, a P/E/G ratio of 1.97 and a beta of 1.38. The firm has a 50 day moving average of $397.68 and a two-hundred day moving average of $323.14. Medpace has a 12 month low of $187.03 and a 12 month high of $419.42.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same period in the prior year, the company posted $2.27 earnings per share. Medpace’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, research analysts expect that Medpace will post 10.53 EPS for the current fiscal year.

Insider Activity at Medpace

In other Medpace news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the sale, the chief executive officer now owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $386.39, for a total value of $5,404,823.32. Following the sale, the insider now directly owns 5,525,959 shares in the company, valued at approximately $2,135,175,298.01. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock worth $76,651,647 in the last ninety days. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medpace

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in Medpace in the first quarter valued at about $27,000. Mather Group LLC. bought a new stake in shares of Medpace in the 1st quarter valued at approximately $28,000. Contravisory Investment Management Inc. bought a new stake in shares of Medpace in the 4th quarter valued at approximately $26,000. RiverPark Advisors LLC acquired a new position in shares of Medpace in the 4th quarter worth approximately $26,000. Finally, Arcadia Investment Management Corp MI lifted its position in shares of Medpace by 40.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.