Credit Suisse Group Raises Medpace (NASDAQ:MEDP) Price Target to $114.00

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Medpace (NASDAQ:MEDP) had its target price lifted by Credit Suisse Group from $92.00 to $114.00 in a research report report published on Tuesday morning, The Fly reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on MEDP. SunTrust Banks upgraded Medpace from a sell rating to a hold rating and boosted their price target for the stock from $54.00 to $85.00 in a research note on Thursday, April 30th. Wolfe Research lowered Medpace from an outperform rating to a peer perform rating and set a $91.00 price target for the company. in a report on Wednesday, May 13th. BidaskClub raised Medpace from a hold rating to a buy rating in a report on Friday, July 3rd. Robert W. Baird raised Medpace from an underperform rating to a neutral rating and set a $83.00 price objective for the company in a research note on Monday, June 8th. Finally, Zacks Investment Research raised Medpace from a sell rating to a hold rating in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Medpace has a consensus rating of Buy and a consensus target price of $103.29.

MEDP opened at $119.35 on Tuesday. The stock has a market cap of $4.23 billion, a PE ratio of 39.31 and a beta of 1.22. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $96.91 and a 200-day moving average of $88.75. Medpace has a 52 week low of $58.72 and a 52 week high of $144.49.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 27th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.28. The company had revenue of $205.00 million during the quarter, compared to analysts’ expectations of $181.17 million. Medpace had a return on equity of 16.05% and a net margin of 12.11%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Equities analysts anticipate that Medpace will post 3.21 EPS for the current year.

In related news, major shareholder Medpace Investors, Llc sold 2,455 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $100.15, for a total value of $245,868.25. Following the completion of the sale, the insider now directly owns 7,788,311 shares of the company’s stock, valued at $779,999,346.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 28,700 shares of the company’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $104.90, for a total transaction of $3,010,630.00. Following the completion of the sale, the chief executive officer now directly owns 616,643 shares of the company’s stock, valued at $64,685,850.70. The disclosure for this sale can be found here. Insiders have sold 669,153 shares of company stock valued at $77,389,817 over the last three months. Insiders own 26.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MEDP. Marshall Wace LLP bought a new position in Medpace in the first quarter worth about $99,000. FMR LLC raised its holdings in Medpace by 6,709.3% in the first quarter. FMR LLC now owns 37,247 shares of the company’s stock worth $2,196,000 after purchasing an additional 36,700 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Medpace by 3.1% in the fourth quarter. Guggenheim Capital LLC now owns 4,268 shares of the company’s stock worth $359,000 after purchasing an additional 128 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Medpace by 2.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 28,703 shares of the company’s stock worth $2,413,000 after purchasing an additional 628 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Medpace in the fourth quarter worth about $261,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Medpace Company Profile

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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