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

Medpace Holdings, Inc. (NASDAQ:MEDP) has been given an average recommendation of “Hold” by the eleven research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $380.00.

MEDP has been the subject of a number of research reports. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. TD Cowen decreased their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Truist Financial decreased their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Finally, Robert W. Baird downgraded Medpace from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $413.00 to $349.00 in a research note on Wednesday, October 23rd.

Institutional Investors Weigh In On Medpace

A number of hedge funds have recently made changes to their positions in MEDP. O Shaughnessy Asset Management LLC bought a new stake in shares of Medpace during the first quarter valued at approximately $307,000. Natixis bought a new stake in Medpace during the first quarter worth approximately $727,000. EntryPoint Capital LLC bought a new stake in Medpace during the first quarter worth approximately $54,000. Advisors Asset Management Inc. raised its holdings in Medpace by 106.4% during the first quarter. Advisors Asset Management Inc. now owns 2,735 shares of the company’s stock worth $1,105,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Medpace by 15.9% during the first quarter. Canada Pension Plan Investment Board now owns 67,800 shares of the company’s stock worth $27,401,000 after purchasing an additional 9,300 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

NASDAQ:MEDP opened at $337.75 on Friday. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.74 and a beta of 1.37. Medpace has a one year low of $268.80 and a one year high of $459.77. The stock has a 50-day simple moving average of $340.42 and a 200 day simple moving average of $373.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The business 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 revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $2.22 earnings per share. On average, equities research analysts forecast that Medpace will post 11.93 EPS for the current fiscal year.

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.