Medpace (MEDP) Stock Rating Lowered by ValuEngine

Medpace (NASDAQ:MEDP) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. TheStreet upgraded shares of Medpace from a “c” rating to a “b-” rating in a research note on Wednesday, April 10th. BidaskClub upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, Wolfe Research started coverage on shares of Medpace in a research note on Tuesday, April 2nd. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $51.50.

Shares of NASDAQ MEDP opened at $54.16 on Tuesday. Medpace has a fifty-two week low of $35.00 and a fifty-two week high of $71.66. The stock has a market capitalization of $2.11 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.62. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.18.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, February 25th. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.07. Medpace had a net margin of 11.27% and a return on equity of 17.66%. The business had revenue of $192.12 million for the quarter, compared to analysts’ expectations of $184.66 million. During the same quarter last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 70.5% compared to the same quarter last year. As a group, sell-side analysts expect that Medpace will post 2.64 earnings per share for the current year.

In other Medpace news, major shareholder Medpace Investors, Llc sold 172,311 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $63.59, for a total value of $10,957,256.49. Following the completion of the sale, the insider now owns 8,025,349 shares in the company, valued at approximately $510,331,942.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Stephen P. Ewald sold 7,946 shares of the stock in a transaction dated 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 quarter, insiders sold 679,858 shares of company stock valued at $43,067,867. Company insiders own 29.50% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of 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 acquiring an additional 59,409 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Medpace by 63.2% in the 3rd quarter. Rhumbline Advisers now owns 19,059 shares of the company’s stock valued at $1,142,000 after acquiring an additional 7,379 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Medpace by 282.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 326,241 shares of the company’s stock valued at $19,545,000 after acquiring an additional 240,900 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Medpace by 42.1% in the 3rd quarter. BlackRock Inc. now owns 2,282,063 shares of the company’s stock valued at $136,719,000 after acquiring an additional 676,396 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Medpace by 270.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,331 shares of the company’s stock valued at $200,000 after acquiring an additional 2,431 shares during the last quarter. Institutional investors own 82.84% of the company’s stock.

Medpace Company Profile

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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