Robert W. Baird Trims Medpace (NASDAQ:MEDP) Target Price to $413.00

Medpace (NASDAQ:MEDP) had its target price cut by Robert W. Baird from $430.00 to $413.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

MEDP has been the topic of several other research reports. TD Cowen dropped their target price on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research report on Wednesday, July 24th. StockNews.com downgraded Medpace from a buy rating to a hold rating in a report on Wednesday, September 18th. Mizuho assumed coverage on shares of Medpace in a report on Tuesday, May 28th. They set a buy rating and a $435.00 price objective on the stock. Finally, Guggenheim reduced their price objective on shares of Medpace from $464.00 to $432.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Medpace currently has an average rating of Moderate Buy and an average price target of $420.88.

Medpace Price Performance

MEDP stock opened at $365.70 on Friday. The business’s 50-day moving average is $378.15 and its two-hundred day moving average is $391.82. The firm has a market capitalization of $11.33 billion, a P/E ratio of 37.28, a P/E/G ratio of 1.74 and a beta of 1.35. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter last year, the company earned $1.93 earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. On average, analysts expect that Medpace will post 11.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. FORA Capital LLC acquired a new position in Medpace in the 1st quarter valued at about $2,222,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Medpace in the first quarter valued at approximately $5,179,000. Eagle Asset Management Inc. raised its stake in shares of Medpace by 155.0% during the fourth quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock worth $69,409,000 after purchasing an additional 137,632 shares during the last quarter. Evoke Wealth LLC acquired a new stake in shares of Medpace during the fourth quarter worth $3,149,000. Finally, Norden Group LLC grew its position in Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after buying an additional 24,466 shares during the last quarter. 77.98% of the stock is currently 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.