Medpace (NASDAQ:MEDP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
A number of other research firms have also recently weighed in on MEDP. ValuEngine cut Medpace from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. Zacks Investment Research cut Medpace from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $48.20.
Shares of MEDP opened at $58.81 on Wednesday. Medpace has a 52-week low of $33.52 and a 52-week high of $71.66. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 1.82 and a beta of 1.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.69 and a quick ratio of 0.69.
In other news, major shareholder Medpace Investors, Llc sold 103,013 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $65.72, for a total transaction of $6,770,014.36. Following the completion of the transaction, the insider now directly owns 7,770,045 shares in the company, valued at approximately $510,647,357.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 102,828 shares of the stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $63.22, for a total value of $6,500,786.16. Following the transaction, the chief executive officer now owns 603,702 shares of the company’s stock, valued at $38,166,040.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 660,817 shares of company stock valued at $41,996,365. Company insiders own 29.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Medpace by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 4,500 shares of the company’s stock valued at $238,000 after acquiring an additional 173 shares during the period. Jennison Associates LLC boosted its holdings in Medpace by 1.9% during the 4th quarter. Jennison Associates LLC now owns 13,942 shares of the company’s stock valued at $738,000 after acquiring an additional 260 shares during the period. Eqis Capital Management Inc. boosted its holdings in Medpace by 4.0% during the 4th quarter. Eqis Capital Management Inc. now owns 9,366 shares of the company’s stock valued at $496,000 after acquiring an additional 360 shares during the period. Ibex Investors LLC boosted its stake in shares of Medpace by 20.0% in the 4th quarter. Ibex Investors LLC now owns 4,254 shares of the company’s stock valued at $225,000 after buying an additional 710 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Medpace by 1.5% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 54,925 shares of the company’s stock valued at $2,907,000 after buying an additional 835 shares during the period. Institutional investors and hedge funds own 82.65% 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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