Leerink Partnrs Upgrades Medpace (NASDAQ:MEDP) to Hold

Medpace (NASDAQ:MEDP) was upgraded by investment analysts at Leerink Partnrs to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Robert W. Baird raised their target price on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Leerink Partners began coverage on shares of Medpace in a report on Monday. They issued a “market perform” rating and a $330.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace has an average rating of “Hold” and an average target price of $376.30.

Medpace Stock Performance

MEDP opened at $330.59 on Monday. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 3.81 and a beta of 1.47. Medpace has a fifty-two week low of $302.01 and a fifty-two week high of $459.77. The company has a fifty day moving average of $337.29 and a 200 day moving average of $339.65.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. On average, equities research analysts forecast that Medpace will post 12.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Raymond James Trust N.A. boosted its holdings in Medpace by 34.6% during the 3rd quarter. Raymond James Trust N.A. now owns 754 shares of the company’s stock valued at $252,000 after acquiring an additional 194 shares during the period. Swedbank AB purchased a new stake in shares of Medpace during the third quarter valued at $7,477,000. Centaurus Financial Inc. grew its holdings in shares of Medpace by 2.0% in the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock worth $505,000 after purchasing an additional 29 shares during the last quarter. Fisher Asset Management LLC increased its stake in Medpace by 6.9% in the 3rd quarter. Fisher Asset Management LLC now owns 124,399 shares of the company’s stock worth $41,524,000 after buying an additional 8,012 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in Medpace by 16.7% during the 3rd quarter. Independent Advisor Alliance now owns 941 shares of the company’s stock valued at $314,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.