Medpace (NASDAQ:MEDP) Shares Down 3.4%

Medpace Holdings, Inc. (NASDAQ:MEDP)’s stock price was down 3.4% during mid-day trading on Thursday . The company traded as low as $379.22 and last traded at $384.22. Approximately 78,457 shares traded hands during trading, a decline of 69% from the average daily volume of 249,110 shares. The stock had previously closed at $397.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MEDP shares. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price target for the company. Robert W. Baird boosted their price target on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and boosted their price target for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Guggenheim boosted their price target on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $443.00.

Medpace Price Performance

The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 2.04 and a beta of 1.38. The firm’s 50-day simple moving average is $397.84 and its 200 day simple moving average is $323.66.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. During the same period in the previous year, the business earned $2.27 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. As a group, research analysts predict that Medpace Holdings, Inc. will post 11.13 earnings per share for the current year.

Insider Buying and Selling at Medpace

In other Medpace news, Director Ashley M. Keating sold 250 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total transaction of $102,467.50. Following the sale, the director now owns 250 shares of the company’s stock, valued at $102,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ashley M. Keating sold 250 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the transaction, the director now directly owns 250 shares in the company, valued at approximately $102,467.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,340 shares of company stock valued at $76,651,647. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medpace

A number of institutional investors and hedge funds have recently made changes to their positions in MEDP. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Medpace by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after acquiring an additional 148 shares in the last quarter. Portside Wealth Group LLC lifted its position in Medpace by 14.8% in the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after acquiring an additional 183 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Medpace by 355.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock valued at $1,090,000 after acquiring an additional 2,774 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Medpace in the 4th quarter valued at about $1,992,000. Finally, Chase Investment Counsel Corp lifted its position in Medpace by 3.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after acquiring an additional 301 shares in the last quarter. Institutional investors 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.