TD Cowen Trims Medpace (NASDAQ:MEDP) Target Price to $372.00

Medpace (NASDAQ:MEDP) had its target price lowered by TD Cowen from $413.00 to $372.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

MEDP has been the subject of a number of other reports. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their price target for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Guggenheim decreased their price target on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $380.00.

Medpace Stock Up 0.7 %

Shares of Medpace stock opened at $330.22 on Wednesday. The company has a market cap of $10.24 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. Medpace has a 52 week low of $239.00 and a 52 week high of $459.77. The business has a 50 day moving average price of $351.45 and a 200-day moving average price of $381.28.

Medpace (NASDAQ:MEDP) last issued 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. The firm had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.22 earnings per share. As a group, research analysts anticipate that Medpace will post 11.77 EPS for the current year.

Institutional Trading of Medpace

Large investors have recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in shares of Medpace by 22.9% in 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 during the period. Renaissance Technologies LLC boosted its holdings in shares of Medpace by 38.3% in 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 during the period. Epoch Investment Partners Inc. boosted its holdings in shares of 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 acquiring an additional 53,983 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after acquiring an additional 143,481 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after acquiring an additional 6,137 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

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.