Medpace (MEDP) Lowered to “Buy” at BidaskClub

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BidaskClub downgraded shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

A number of other research firms have also issued reports on MEDP. SunTrust Banks raised Medpace from a hold rating to a buy rating and set a $63.00 target price on the stock in a report on Wednesday. They noted that the move was a valuation call. TheStreet raised Medpace from a c rating to a b- rating in a report on Friday, August 10th. Zacks Investment Research lowered Medpace from a buy rating to a hold rating in a report on Wednesday, July 4th. William Blair raised Medpace from a market perform rating to an outperform rating in a report on Tuesday, July 31st. Finally, Credit Suisse Group lifted their target price on Medpace from $42.00 to $49.00 and gave the stock an outperform rating in a report on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $44.43.

NASDAQ:MEDP traded up $2.26 during mid-day trading on Wednesday, reaching $54.36. 45,436 shares of the stock were exchanged, compared to its average volume of 475,264. The firm has a market cap of $1.70 billion, a P/E ratio of 35.93, a PEG ratio of 1.21 and a beta of 1.02. Medpace has a 1-year low of $31.70 and a 1-year high of $65.09. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.32.

Medpace (NASDAQ:MEDP) last released its earnings results on Wednesday, October 31st. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $179.00 million for the quarter, compared to analyst estimates of $175.07 million. Medpace had a return on equity of 16.19% and a net margin of 10.84%. Medpace’s revenue was up 44.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 earnings per share. Sell-side analysts expect that Medpace will post 2.47 EPS for the current year.

In related news, major shareholder Medpace Limited Partnership sold 5,224,997 shares of Medpace stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $54.75, for a total value of $286,068,585.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO August J. Troendle sold 731,460 shares of Medpace stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $59.26, for a total value of $43,346,319.60. Following the completion of the transaction, the chief executive officer now directly owns 849,621 shares in the company, valued at approximately $50,348,540.46. The disclosure for this sale can be found here. Insiders sold a total of 11,528,016 shares of company stock worth $634,098,544 in the last three months. 29.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MEDP. Northern Trust Corp increased its stake in Medpace by 19.1% in the 1st quarter. Northern Trust Corp now owns 145,572 shares of the company’s stock worth $5,081,000 after purchasing an additional 23,334 shares in the last quarter. BlackRock Inc. grew its stake in Medpace by 7.8% during the 1st quarter. BlackRock Inc. now owns 1,212,875 shares of the company’s stock valued at $42,342,000 after acquiring an additional 87,897 shares in the last quarter. California Public Employees Retirement System purchased a new position in Medpace during the 1st quarter valued at about $293,000. Dimensional Fund Advisors LP purchased a new position in Medpace during the 1st quarter valued at about $5,779,000. Finally, The Manufacturers Life Insurance Company grew its stake in Medpace by 26.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,983 shares of the company’s stock valued at $278,000 after acquiring an additional 1,673 shares in the last quarter. 39.89% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Medpace (NASDAQ:MEDP)

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