Medpace (MEDP) Downgraded by TheStreet to “C”

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.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 29th. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $190.16 million. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. As a group, equities analysts anticipate that Medpace will post 2.63 earnings per share for the current fiscal year.

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.

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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