Robert W. Baird Forecasts Strong Price Appreciation for Medpace (NASDAQ:MEDP) Stock

Medpace (NASDAQ:MEDP) had its price objective hoisted by stock analysts at Robert W. Baird from $349.00 to $354.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 4.81% from the company’s previous close.

Other analysts have also issued research reports about the company. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Truist Financial lowered their price target on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and decreased their target price for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Finally, Redburn Atlantic initiated coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Medpace currently has an average rating of “Hold” and an average target price of $380.56.

Medpace Trading Down 1.2 %

NASDAQ:MEDP opened at $337.75 on Monday. Medpace has a 1 year low of $268.80 and a 1 year high of $459.77. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.87 and a beta of 1.37. The stock has a 50-day moving average price of $340.14 and a two-hundred day moving average price of $373.03.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.22 earnings per share. Sell-side analysts forecast that Medpace will post 11.93 earnings per share for the current year.

Institutional Investors Weigh In On Medpace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westwind Capital lifted its stake in shares of Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after acquiring an additional 338,610 shares during the last quarter. Iron Triangle Partners LP bought a new position in shares of Medpace in the 3rd quarter valued at $64,371,000. Clearbridge Investments LLC lifted its stake in shares of Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after acquiring an additional 143,481 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after buying an additional 122,800 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Medpace by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after buying an additional 119,257 shares during the period. 77.98% of the stock is currently owned by 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.