Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $380.00 Consensus Target Price from Brokerages

Medpace Holdings, Inc. (NASDAQ:MEDP) has been given a consensus rating of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $380.56.

Several brokerages have weighed in on MEDP. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and lowered their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Truist Financial lowered their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. TD Cowen reduced their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird raised their price target on Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Redburn Atlantic started coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective on the stock.

Medpace Trading Up 1.1 %

Shares of NASDAQ:MEDP opened at $338.96 on Friday. Medpace has a 12-month low of $268.80 and a 12-month high of $459.77. The business’s fifty day simple moving average is $338.93 and its 200-day simple moving average is $371.98. The company has a market capitalization of $10.53 billion, a PE ratio of 29.68, a P/E/G ratio of 1.87 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.22 earnings per share. Research analysts predict that Medpace will post 11.93 EPS for the current year.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of Medpace by 19.4% in the 3rd quarter. Franklin Resources Inc. now owns 188,141 shares of the company’s stock valued at $66,508,000 after buying an additional 30,530 shares during the period. Tidal Investments LLC raised its position in Medpace by 257.9% during the third quarter. Tidal Investments LLC now owns 3,654 shares of the company’s stock valued at $1,220,000 after acquiring an additional 2,633 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Medpace in the 3rd quarter worth approximately $175,000. Sanctuary Advisors LLC boosted its position in Medpace by 21.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,120 shares of the company’s stock worth $1,392,000 after purchasing an additional 721 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Medpace during the 3rd quarter worth approximately $1,503,000. 77.98% of the stock is owned by institutional investors and hedge funds.

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.