Medpace Holdings, Inc. (NASDAQ:MEDP) Given Average Rating of “Hold” by Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has received an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $380.56.

Several research analysts have recently issued reports on MEDP shares. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and reduced their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Truist Financial dropped their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. TD Cowen reduced their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th.

Medpace Stock Down 1.0 %

MEDP stock opened at $350.87 on Friday. The stock has a market capitalization of $10.91 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.36. Medpace has a 52 week low of $277.72 and a 52 week high of $459.77. The firm has a 50 day moving average of $341.09 and a 200 day moving average of $359.82.

Medpace (NASDAQ:MEDP) last released 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. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The firm had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period in the prior year, the firm earned $2.22 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Medpace will post 11.93 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Hedge funds have recently bought and sold shares of the business. HBW Advisory Services LLC increased its position in shares of Medpace by 5.6% in the fourth quarter. HBW Advisory Services LLC now owns 756 shares of the company’s stock valued at $251,000 after buying an additional 40 shares in the last quarter. Nordea Investment Management AB increased its holdings in Medpace by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 58,091 shares of the company’s stock worth $19,402,000 after acquiring an additional 2,646 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Medpace during the fourth quarter worth $272,000. JPMorgan Chase & Co. lifted its holdings in Medpace by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 175,239 shares of the company’s stock valued at $58,495,000 after purchasing an additional 12,455 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Medpace by 7.7% in the third quarter. Retirement Systems of Alabama now owns 66,745 shares of the company’s stock valued at $22,279,000 after purchasing an additional 4,783 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.