StockNews.com Lowers Medpace (NASDAQ:MEDP) to Hold

StockNews.com lowered shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report published on Friday.

MEDP has been the topic of a number of other research reports. Truist Financial began coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a hold rating and a $415.00 price objective on the stock. Jefferies Financial Group downgraded shares of Medpace from a buy rating to a hold rating and decreased their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Robert W. Baird cut their price objective on Medpace from $430.00 to $413.00 and set an outperform rating on the stock in a research report on Friday, September 20th. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Finally, Guggenheim reduced their price target on Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $395.00.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $331.44 on Friday. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The company has a market capitalization of $10.27 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The business has a fifty day moving average price of $368.39 and a two-hundred day moving average price of $389.57.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping 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 company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter last year, the company earned $1.93 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts anticipate that Medpace will post 11.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Medpace in the first quarter valued at about $27,000. Mather Group LLC. bought a new stake in shares of Medpace in the 1st quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new stake in shares of Medpace in the 1st quarter valued at about $31,000. J.Safra Asset Management Corp lifted its position in shares of Medpace by 87.0% in the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 47 shares during the period. Finally, DT Investment Partners LLC bought a new position in shares of Medpace during the second quarter valued at approximately $41,000. Institutional investors own 77.98% of the company’s stock.

About Medpace

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.