Deutsche Bank Aktiengesellschaft Trims Medpace (NASDAQ:MEDP) Target Price to $336.00

Medpace (NASDAQ:MEDP) had its target price cut by Deutsche Bank Aktiengesellschaft from $395.00 to $336.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. William Blair reiterated an outperform rating on shares of Medpace in a research note on Tuesday, July 23rd. Guggenheim decreased their price objective on shares of Medpace from $464.00 to $432.00 and set a buy rating for the company in a research note on Wednesday. Robert W. Baird boosted their price objective on shares of Medpace from $456.00 to $469.00 and gave the stock an outperform rating in a research note on Monday, July 8th. TD Cowen decreased their target price on shares of Medpace from $452.00 to $434.00 and set a buy rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group upgraded shares of Medpace from a hold rating to a buy rating and upped their target price for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Medpace presently has a consensus rating of Moderate Buy and a consensus price target of $424.14.

Medpace Stock Performance

Medpace stock opened at $381.47 on Wednesday. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The firm has a 50 day moving average price of $404.32 and a 200 day moving average price of $382.76. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 1.82 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. During the same period in the previous year, the firm earned $1.93 earnings per share. Medpace’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts predict that Medpace will post 11.69 EPS for the current year.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the sale, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the sale, the chief executive officer now directly owns 716,197 shares of the company’s stock, valued at $286,894,194.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the sale, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders have sold 29,621 shares of company stock valued at $11,816,852 over the last ninety days. Corporate insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

A number of institutional investors and hedge funds have recently modified their holdings of the business. Encompass More Asset Management acquired a new stake in shares of Medpace during the second quarter worth $227,000. Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Medpace during the second quarter worth $397,000. RiverPark Advisors LLC raised its holdings in shares of Medpace by 9.6% during the second quarter. RiverPark Advisors LLC now owns 607 shares of the company’s stock worth $250,000 after purchasing an additional 53 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Medpace by 1,028.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company’s stock worth $48,056,000 after purchasing an additional 106,343 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Medpace by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 226,268 shares of the company’s stock worth $93,188,000 after acquiring an additional 1,128 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It 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.