Medpace (MEDP) Upgraded by Zacks Investment Research to Buy

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Medpace (NASDAQ:MEDP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $54.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 3.65% from the stock’s previous close.

According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “

Several other research analysts also recently commented on MEDP. William Blair raised shares of Medpace from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 31st. BidaskClub downgraded shares of Medpace from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Credit Suisse Group increased their price target on shares of Medpace from $42.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, July 31st. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. Finally, SunTrust Banks assumed coverage on shares of Medpace in a report on Monday, September 17th. They issued a “hold” rating and a $63.00 price target for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Medpace has a consensus rating of “Buy” and an average price target of $44.43.

MEDP opened at $52.10 on Thursday. Medpace has a 52 week low of $31.70 and a 52 week high of $65.09. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 1.21 and a beta of 1.02. 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 quarterly earnings data on Tuesday, October 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. Medpace had a net margin of 10.84% and a return on equity of 16.19%. The business had revenue of $179.00 million during the quarter, compared to the consensus estimate of $175.07 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue was up 44.4% on a year-over-year basis. On average, sell-side analysts forecast that Medpace will post 2.47 EPS for the current fiscal year.

In other Medpace news, CEO August J. Troendle sold 731,460 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $59.26, for a total value of $43,346,319.60. Following the completion of the sale, the chief executive officer now owns 849,621 shares of the company’s stock, valued at $50,348,540.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 46,778 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $58.96, for a total transaction of $2,758,030.88. Following the completion of the sale, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at approximately $20,745,134.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,528,016 shares of company stock valued at $634,098,544. 29.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in Medpace by 5,087.5% in the second quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock worth $196,000 after purchasing an additional 4,477 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Medpace in the second quarter worth about $400,000. Laurion Capital Management LP bought a new stake in Medpace in the second quarter worth about $29,230,000. PNC Financial Services Group Inc. lifted its stake in Medpace by 592.9% in the second quarter. PNC Financial Services Group Inc. now owns 54,798 shares of the company’s stock worth $2,356,000 after purchasing an additional 46,890 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Medpace by 24.9% in the second quarter. Russell Investments Group Ltd. now owns 171,323 shares of the company’s stock worth $7,380,000 after purchasing an additional 34,121 shares during the last quarter. 39.89% of the stock is owned by institutional investors and hedge funds.

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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