UBS Group Downgrades Medpace (NASDAQ:MEDP) to Neutral

UBS Group cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. UBS Group currently has $350.00 target price on the stock, down from their previous target price of $420.00.

Several other equities analysts have also recently issued reports on MEDP. StockNews.com cut shares of Medpace from a buy rating to a hold rating in a research report on Friday. Robert W. Baird decreased their price objective on Medpace from $430.00 to $413.00 and set an outperform rating for the company in a report on Friday, September 20th. Truist Financial assumed coverage on Medpace in a research report on Thursday, August 1st. They set a hold rating and a $415.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price target on Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research report on Wednesday, July 24th. Finally, William Blair restated an outperform rating on shares of Medpace in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $395.00.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $333.80 on Friday. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The company has a market capitalization of $10.34 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The company has a fifty day moving average of $368.39 and a 200-day moving average of $389.44.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the firm earned $1.93 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities analysts forecast that Medpace will post 11.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after buying an additional 142,591 shares during the period. TD Asset Management Inc boosted its stake in Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after acquiring an additional 107,108 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after acquiring an additional 122,800 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in Medpace by 15.3% in 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 period. Finally, Clearbridge Investments LLC increased its stake in Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after purchasing an additional 143,481 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

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.