TheStreet Upgrades Medpace (MEDP) to “B-“

Medpace (NASDAQ:MEDP) was upgraded by investment analysts at TheStreet from a “c” rating to a “b-” rating in a research report issued to clients and investors on Wednesday, April 10th, TheStreetRatingsTable reports.

Several other equities analysts also recently weighed in on the stock. Wolfe Research assumed coverage on shares of Medpace in a report on Tuesday, April 2nd. They issued an “outperform” rating on the stock. BidaskClub raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research cut shares of Medpace from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Finally, ValuEngine raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $59.25.

Shares of Medpace stock traded up $1.14 during midday trading on Wednesday, hitting $57.75. The company had a trading volume of 431,919 shares, compared to its average volume of 638,887. The firm has a market capitalization of $2.07 billion, a P/E ratio of 22.30, a PEG ratio of 1.77 and a beta of 1.51. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. Medpace has a 12-month low of $36.36 and a 12-month high of $71.66.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Medpace had a net margin of 10.49% and a return on equity of 17.16%. The firm had revenue of $200.70 million during the quarter, compared to analyst estimates of $190.16 million. During the same period last year, the firm posted $0.60 EPS. Medpace’s revenue was up 23.1% on a year-over-year basis. As a group, research analysts anticipate that Medpace will post 2.64 earnings per share for the current fiscal year.

In other Medpace news, General Counsel Stephen P. Ewald sold 7,946 shares of the firm’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $57.95, for a total value of $460,470.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jesse J. Geiger sold 25,037 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $60.00, for a total value of $1,502,220.00. Following the completion of the transaction, the chief financial officer now owns 25,037 shares in the company, valued at approximately $1,502,220. The disclosure for this sale can be found here. Insiders sold a total of 166,916 shares of company stock worth $10,690,042 in the last three months. 24.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MEDP. Wells Fargo & Company MN lifted its holdings in Medpace by 271.5% in the 3rd quarter. Wells Fargo & Company MN now owns 81,291 shares of the company’s stock valued at $4,871,000 after purchasing an additional 59,409 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Medpace by 27.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 134,620 shares of the company’s stock worth $8,065,000 after acquiring an additional 28,849 shares during the period. Rhumbline Advisers raised its holdings in shares of Medpace by 63.2% during the 3rd quarter. Rhumbline Advisers now owns 19,059 shares of the company’s stock worth $1,142,000 after acquiring an additional 7,379 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Medpace by 282.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 326,241 shares of the company’s stock worth $19,545,000 after acquiring an additional 240,900 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Medpace by 42.1% during the 3rd quarter. BlackRock Inc. now owns 2,282,063 shares of the company’s stock worth $136,719,000 after acquiring an additional 676,396 shares during the period. Institutional investors own 82.98% 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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