Medpace (NASDAQ:MEDP) PT Raised to $124.00

Medpace (NASDAQ:MEDP) had its price target lifted by SunTrust Banks from $95.00 to $124.00 in a research report released on Wednesday, The Fly reports. The brokerage currently has a hold rating on the stock. SunTrust Banks also issued estimates for Medpace’s Q3 2020 earnings at $1.12 EPS, Q4 2020 earnings at $1.28 EPS, FY2020 earnings at $3.89 EPS, Q1 2021 earnings at $0.98 EPS, Q2 2021 earnings at $1.08 EPS, Q3 2021 earnings at $1.14 EPS, Q4 2021 earnings at $1.25 EPS, FY2021 earnings at $4.46 EPS, FY2021 earnings at $3.47 EPS, FY2022 earnings at $4.21 EPS and FY2022 earnings at $5.39 EPS.

A number of other research firms also recently weighed in on MEDP. Wolfe Research downgraded shares of Medpace from an outperform rating to a peer perform rating and set a $91.00 target price for the company. in a research report on Wednesday, May 13th. Credit Suisse Group raised their target price on shares of Medpace from $92.00 to $114.00 and gave the company an outperform rating in a research report on Tuesday, July 28th. BidaskClub raised shares of Medpace from a hold rating to a buy rating in a research report on Friday, July 3rd. Robert W. Baird raised shares of Medpace from an underperform rating to a neutral rating and set a $83.00 target price for the company in a research report on Monday, June 8th. Finally, Zacks Investment Research raised shares of Medpace from a sell rating to a hold rating in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Medpace has a consensus rating of Buy and an average price target of $103.29.

Shares of MEDP stock opened at $119.35 on Wednesday. The firm has a fifty day moving average of $96.91 and a 200-day moving average of $88.75. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. Medpace has a 12-month low of $58.72 and a 12-month high of $144.49. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 42.47 and a beta of 1.22.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.28. Medpace had a net margin of 12.11% and a return on equity of 16.05%. The company had revenue of $205.00 million during the quarter, compared to the consensus estimate of $181.17 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, equities analysts expect that Medpace will post 3.21 EPS for the current year.

In other news, CEO August J. Troendle sold 47,106 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $123.99, for a total transaction of $5,840,672.94. Following the completion of the sale, the chief executive officer now owns 616,643 shares in the company, valued at approximately $76,457,565.57. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Medpace Investors, Llc sold 6,127 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $100.50, for a total transaction of $615,763.50. Following the sale, the insider now owns 7,788,311 shares of the company’s stock, valued at approximately $782,725,255.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 669,153 shares of company stock valued at $77,389,817. 26.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Medpace by 5.5% in the 1st quarter. Geode Capital Management LLC now owns 450,923 shares of the company’s stock worth $33,088,000 after purchasing an additional 23,691 shares in the last quarter. AXA bought a new position in Medpace in the 1st quarter valued at about $1,123,000. Norges Bank bought a new position in Medpace in the 4th quarter valued at about $33,391,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Medpace by 33.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,474 shares of the company’s stock valued at $182,000 after buying an additional 626 shares during the period. Finally, First Trust Advisors LP increased its holdings in Medpace by 6.0% in the 1st quarter. First Trust Advisors LP now owns 114,321 shares of the company’s stock valued at $8,389,000 after buying an additional 6,503 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

About Medpace

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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