Medpace (NASDAQ:MEDP) Price Target Raised to $450.00

by · The Cerbat Gem

Medpace (NASDAQ:MEDP – Free Report) had its target price hoisted by Jefferies Financial Group from $400.00 to $450.00 in a research report report published on Tuesday, MarketBeat.com reports. They currently have a hold rating on the stock.

A number of other brokerages also recently commented on MEDP. Rothschild & Co Redburn downgraded Medpace from a “buy” rating to a “neutral” rating and increased their price objective for the company from $342.00 to $474.00 in a research report on Wednesday, September 3rd. Barclays boosted their target price on Medpace from $300.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 23rd. Cowen lowered Medpace from a “buy” rating to a “sell” rating in a research report on Wednesday, July 23rd. Rothschild Redb cut Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Medpace in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $422.27.

View Our Latest Stock Analysis on Medpace

Medpace Trading Up 4.4%

Shares of NASDAQ MEDP opened at $497.59 on Tuesday. Medpace has a twelve month low of $250.05 and a twelve month high of $501.30. The firm has a 50-day moving average of $426.07 and a two-hundred day moving average of $348.17. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 3.00 and a beta of 1.44.

Medpace (NASDAQ:MEDP – Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The company had revenue of $603.31 million for the quarter, compared to analysts’ expectations of $537.70 million. During the same quarter in the previous year, the company posted $2.75 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, research analysts predict that Medpace will post 12.29 earnings per share for the current year.

Insider Activity

In other news, VP Susan E. Burwig sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $480.00, for a total value of $4,800,000.00. Following the completion of the sale, the vice president directly owned 57,500 shares of the company’s stock, valued at $27,600,000. This represents a 14.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin M. Brady sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the sale, the chief financial officer owned 6,000 shares of the company’s stock, valued at approximately $2,725,380. This represents a 66.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 161,266 shares of company stock worth $74,111,427. Corporate insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently modified their holdings of the stock. Portside Wealth Group LLC raised its holdings in shares of Medpace by 2.5% during the second quarter. Portside Wealth Group LLC now owns 1,090 shares of the company’s stock worth $342,000 after acquiring an additional 27 shares in the last quarter. M&T Bank Corp grew its stake in Medpace by 3.4% in the second quarter. M&T Bank Corp now owns 939 shares of the company’s stock valued at $295,000 after purchasing an additional 31 shares in the last quarter. Whittier Trust Co. increased its position in Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company’s stock worth $33,000 after purchasing an additional 35 shares during the last quarter. PDS Planning Inc raised its stake in shares of Medpace by 1.5% during the 2nd quarter. PDS Planning Inc now owns 2,421 shares of the company’s stock worth $760,000 after purchasing an additional 35 shares in the last quarter. Finally, Front Row Advisors LLC raised its stake in shares of Medpace by 0.4% during the 2nd quarter. Front Row Advisors LLC now owns 9,441 shares of the company’s stock worth $2,963,000 after purchasing an additional 35 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

About Medpace

(Get Free Report)

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.

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