Medpace (NASDAQ:MEDP) Trading 1.6% Higher

Medpace Holdings, Inc. (NASDAQ:MEDP) shot up 1.6% during mid-day trading on Monday . The stock traded as high as $403.12 and last traded at $398.85. 61,611 shares were traded during mid-day trading, a decline of 75% from the average session volume of 247,262 shares. The stock had previously closed at $392.57.

Analyst Ratings Changes

Several brokerages recently issued reports on MEDP. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and increased their price target for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. Robert W. Baird increased their price target on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and raised their target price for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 target price on the stock. Finally, StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $443.00.

Medpace Trading Down 3.6 %

The company’s 50-day moving average price is $397.69 and its two-hundred day moving average price is $334.57. The company has a market cap of $12.01 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.95 and a beta of 1.40.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results 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 analyst estimates of $512.39 million. During the same period in the previous year, the business posted $2.27 EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts anticipate that Medpace Holdings, Inc. will post 11.23 earnings per share for the current year.

Insider Activity

In other news, CEO August J. Troendle sold 15,102 shares of Medpace stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the transaction, the insider now directly owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The disclosure for this sale can be found here. In the last three months, insiders sold 204,442 shares of company stock valued at $82,702,867. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Medpace by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after purchasing an additional 142,591 shares in the last quarter. Riverbridge Partners LLC raised its holdings in shares of Medpace by 7.1% in the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock worth $199,975,000 after purchasing an additional 43,197 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Medpace by 67.6% during the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after acquiring an additional 246,775 shares during the period. TD Asset Management Inc raised its holdings in shares of Medpace by 195.2% during the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after acquiring an additional 308,816 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Medpace by 312.6% during the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after acquiring an additional 319,210 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

About Medpace

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.