Medpace (MEDP) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Medpace from a hold rating to a buy rating and set a $54.00 target price on the stock in a report on Thursday, November 1st. SunTrust Banks upgraded Medpace from a hold rating to a buy rating and set a $63.00 target price on the stock in a report on Wednesday, October 31st. They noted that the move was a valuation call. TheStreet upgraded Medpace from a c rating to a b- rating in a report on Friday, August 10th. Credit Suisse Group upped 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. Finally, William Blair upgraded Medpace from a market perform rating to an outperform rating in a report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Medpace has a consensus rating of Buy and a consensus price target of $44.43.

MEDP traded up $0.04 on Thursday, hitting $58.74. 629,338 shares of the company were exchanged, compared to its average volume of 439,647. Medpace has a 12 month low of $31.70 and a 12 month high of $65.09. The firm has a market capitalization of $1.98 billion, a PE ratio of 38.64, a PEG ratio of 1.39 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66.

Medpace (NASDAQ:MEDP) last released its earnings results on Thursday, November 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. Medpace had a return on equity of 15.86% and a net margin of 10.84%. The business had revenue of $179.00 million for the quarter, compared to analyst estimates of $175.07 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. Medpace’s revenue was up 44.4% on a year-over-year basis. On average, research analysts forecast that Medpace will post 2.5 earnings per share for the current year.

In other Medpace news, major shareholder Medpace Investors, Llc sold 61,141 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $60.20, for a total value of $3,680,688.20. Following the sale, the insider now owns 9,084,369 shares in the company, valued at $546,879,013.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Medpace Limited Partnership sold 5,224,997 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $54.75, for a total value of $286,068,585.75. The disclosure for this sale can be found here. Insiders sold 5,621,556 shares of company stock worth $309,490,974 in the last 90 days. Corporate insiders own 29.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MEDP. Laurion Capital Management LP bought a new stake in Medpace in the second quarter valued at approximately $29,230,000. BlackRock Inc. raised its stake in Medpace by 42.1% in the third quarter. BlackRock Inc. now owns 2,282,063 shares of the company’s stock valued at $136,719,000 after buying an additional 676,396 shares during the period. Penserra Capital Management LLC bought a new stake in Medpace in the third quarter valued at approximately $17,256,000. Acadian Asset Management LLC grew its position in shares of Medpace by 28.2% in the second quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock valued at $55,106,000 after purchasing an additional 282,216 shares during the last quarter. Finally, Chartwell Investment Partners LLC acquired a new position in shares of Medpace in the second quarter valued at approximately $11,190,000. Hedge funds and other institutional investors own 40.22% of the company’s stock.

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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