Medpace (NASDAQ:MEDP) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research report report published on Wednesday, Marketbeat.com reports. They currently have $345.00 price target on the stock, down from their prior price target of $415.00.

A number of other equities analysts have also recently weighed in on the stock. Mizuho assumed coverage on shares of Medpace in a research report on Tuesday, May 28th. They set a buy rating and a $435.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Medpace from $395.00 to $336.00 and set a hold rating for the company in a research note on Wednesday, July 24th. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Guggenheim dropped their target price on Medpace from $464.00 to $432.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial assumed coverage on shares of Medpace in a research note on Thursday, August 1st. They set a hold rating and a $415.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Medpace has an average rating of Moderate Buy and a consensus price target of $395.00.

Medpace Stock Performance

MEDP stock opened at $331.44 on Wednesday. Medpace has a one year low of $227.21 and a one year high of $459.77. The firm has a market cap of $10.27 billion, a PE ratio of 33.79, a PEG ratio of 1.88 and a beta of 1.35. The firm’s 50 day moving average price is $368.39 and its 200-day moving average price is $389.69.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 EPS. Equities research analysts predict that Medpace will post 11.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Medpace

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Medpace by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after buying an additional 142,591 shares during the last quarter. TD Asset Management Inc lifted its position in Medpace by 22.9% in the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after acquiring an additional 107,108 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Medpace by 38.3% in the second 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 in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Medpace by 15.3% during the first 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 during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Medpace by 55.1% during the second 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 during the last quarter. Hedge funds and other 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.