Medpace (NASDAQ:MEDP) Sets New 12-Month High at $269.98

Posted by Defense World Staff on Sep 1st, 2023

Medpace Holdings, Inc. (NASDAQ:MEDP – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $269.98 and last traded at $269.48, with a volume of 8756 shares. The stock had previously closed at $266.89.

Wall Street Analysts Forecast Growth

MEDP has been the subject of a number of research reports. Guggenheim lifted their target price on shares of Medpace from $252.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. UBS Group lifted their target price on shares of Medpace from $215.00 to $270.00 in a research note on Wednesday, July 26th. Robert W. Baird lifted their price objective on shares of Medpace from $240.00 to $260.00 in a research note on Wednesday, July 26th. 22nd Century Group reaffirmed an “upgrade” rating on shares of Medpace in a research note on Monday, May 8th. Finally, StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.67.

Get Our Latest Report on MEDP

Medpace Trading Down 0.3 %

The firm’s fifty day moving average price is $249.76 and its 200-day moving average price is $217.55. The company has a market cap of $8.26 billion, a P/E ratio of 32.29 and a beta of 1.37.

Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings data on Monday, July 24th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Medpace had a net margin of 16.06% and a return on equity of 72.88%. The company had revenue of $460.90 million for the quarter, compared to the consensus estimate of $433.75 million. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue was up 31.2% compared to the same quarter last year. As a group, research analysts forecast that Medpace Holdings, Inc. will post 8.39 earnings per share for the current fiscal year.

Insider Activity at Medpace

In related news, Director Robert O. Kraft sold 13,782 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $265.67, for a total value of $3,661,463.94. Following the sale, the director now owns 188 shares of the company’s stock, valued at $49,945.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Stephen P. Ewald sold 21,850 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $254.39, for a total value of $5,558,421.50. Following the sale, the general counsel now owns 14,854 shares of the company’s stock, valued at $3,778,709.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert O. Kraft sold 13,782 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $265.67, for a total transaction of $3,661,463.94. Following the completion of the sale, the director now directly owns 188 shares in the company, valued at approximately $49,945.96. The disclosure for this sale can be found here. Insiders have sold a total of 91,979 shares of company stock valued at $21,903,170 over the last quarter. 25.70% of the stock is owned by company insiders.

Institutional Trading of Medpace

Large investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new stake in Medpace during the fourth quarter worth about $27,000. Altshuler Shaham Ltd bought a new stake in Medpace during the fourth quarter worth about $27,000. Rockefeller Capital Management L.P. grew its stake in Medpace by 361.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 143 shares of the company’s stock worth $30,000 after buying an additional 112 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Medpace during the second quarter worth about $35,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Medpace during the second quarter worth about $38,000. 77.98% of the stock is owned by institutional investors.

Medpace Company Profile

(Get Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.