Medpace (NASDAQ:MEDP) Downgraded by Baird R W to Hold

Medpace (NASDAQ:MEDP) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

MEDP has been the subject of a number of other research reports. Guggenheim lowered their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Redburn Atlantic started coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 target price on the stock. Finally, Truist Financial reduced their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $380.00.

Medpace Trading Up 1.1 %

Shares of Medpace stock opened at $330.07 on Wednesday. Medpace has a 12 month low of $239.00 and a 12 month high of $459.77. The firm has a market capitalization of $10.23 billion, a P/E ratio of 33.65, a P/E/G ratio of 1.77 and a beta of 1.35. The business has a fifty day simple moving average of $353.71 and a two-hundred day simple moving average of $382.20.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the previous year, the firm posted $2.22 earnings per share. Medpace’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts predict that Medpace will post 11.64 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Several hedge funds and other institutional investors have recently modified their holdings of MEDP. TD Asset Management Inc grew its stake in shares of Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after purchasing an additional 107,108 shares during the period. Renaissance Technologies LLC grew its position in shares of Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after acquiring an additional 122,800 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Medpace by 15.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Medpace by 1.6% in the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after purchasing an additional 6,137 shares during the period. 77.98% of the stock is owned by institutional investors.

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.