Medpace (MEDP) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research note released on Thursday morning.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Medpace from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Friday, November 3rd. Jefferies Group boosted their price target on Medpace from $34.00 to $38.00 and gave the stock a hold rating in a research note on Wednesday, November 1st. KeyCorp reissued a hold rating on shares of Medpace in a research note on Tuesday, October 17th. Robert W. Baird reissued a hold rating and set a $32.00 price target on shares of Medpace in a research note on Monday, October 9th. Finally, Raymond James Financial started coverage on Medpace in a research note on Friday, September 29th. They set a market perform rating on the stock. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $36.60.

Shares of Medpace (NASDAQ MEDP) traded down $0.34 during trading hours on Thursday, hitting $36.04. The stock had a trading volume of 1,019,776 shares, compared to its average volume of 369,873. The stock has a market cap of $1,354.42, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.85 and a beta of -0.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.68. Medpace has a fifty-two week low of $21.76 and a fifty-two week high of $39.64.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 30th. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The business had revenue of $98.68 million for the quarter, compared to analyst estimates of $96.84 million. Medpace had a return on equity of 10.00% and a net margin of 6.44%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. sell-side analysts expect that Medpace will post 1.5 EPS for the current year.

In related news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $30.16, for a total value of $138,736,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 25.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Medpace by 23.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock valued at $29,419,000 after acquiring an additional 191,597 shares during the last quarter. Federated Investors Inc. PA raised its holdings in Medpace by 3.1% in the 2nd quarter. Federated Investors Inc. PA now owns 184,469 shares of the company’s stock valued at $5,350,000 after acquiring an additional 5,554 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in Medpace in the 2nd quarter valued at $325,000. Northern Trust Corp raised its holdings in Medpace by 15.9% in the 2nd quarter. Northern Trust Corp now owns 101,728 shares of the company’s stock valued at $2,950,000 after acquiring an additional 13,938 shares during the last quarter. Finally, Granite Investment Partners LLC raised its holdings in Medpace by 5.5% in the 3rd quarter. Granite Investment Partners LLC now owns 295,415 shares of the company’s stock valued at $9,424,000 after acquiring an additional 15,486 shares during the last quarter. 16.80% of the stock is currently owned by hedge funds and other institutional investors.

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About Medpace

Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.

Analyst Recommendations for Medpace (NASDAQ:MEDP)

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