TheStreet downgraded shares of Medpace (NASDAQ:MEDP) from a b- rating to a c rating in a research report sent to investors on Monday, TheStreetRatingsTable reports.
MEDP has been the subject of several other research reports. ValuEngine cut shares of Medpace from a buy rating to a hold rating in a report on Tuesday, April 16th. Zacks Investment Research cut shares of Medpace from a hold rating to a sell rating in a report on Saturday, March 2nd. BidaskClub cut shares of Medpace from a buy rating to a hold rating in a report on Saturday, March 9th. Wolfe Research initiated coverage on shares of Medpace in a report on Tuesday, April 2nd. They set an outperform rating for the company. Finally, Robert W. Baird raised their target price on shares of Medpace from $57.00 to $62.00 and gave the stock a neutral rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $59.25.
Shares of Medpace stock opened at $57.11 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69. Medpace has a 1 year low of $41.27 and a 1 year high of $71.66. The firm has a market cap of $2.00 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.51.
In related news, CFO Jesse J. Geiger sold 12,000 shares of the firm’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $58.20, for a total transaction of $698,400.00. Following the sale, the chief financial officer now owns 25,037 shares in the company, valued at $1,457,153.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Stephen P. Ewald sold 7,946 shares of the firm’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $57.95, for a total transaction of $460,470.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,983 shares of company stock worth $2,661,091. 24.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of Medpace by 82.2% in the fourth quarter. BlackRock Inc. now owns 4,158,359 shares of the company’s stock valued at $220,103,000 after purchasing an additional 1,876,296 shares during the period. Vanguard Group Inc. grew its position in shares of Medpace by 63.6% in the third quarter. Vanguard Group Inc. now owns 2,897,702 shares of the company’s stock valued at $173,601,000 after purchasing an additional 1,126,649 shares during the period. Pendal Group Ltd grew its position in shares of Medpace by 10,018.7% in the fourth quarter. Pendal Group Ltd now owns 1,593,387 shares of the company’s stock valued at $73,338,000 after purchasing an additional 1,577,640 shares during the period. Wasatch Advisors Inc. grew its position in shares of Medpace by 17.5% in the first quarter. Wasatch Advisors Inc. now owns 1,404,441 shares of the company’s stock valued at $82,820,000 after purchasing an additional 209,449 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Medpace by 130.9% in the fourth quarter. Bank of New York Mellon Corp now owns 753,303 shares of the company’s stock valued at $39,872,000 after purchasing an additional 427,062 shares during the period. Institutional investors own 83.50% 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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