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.
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.
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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