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

Medpace Holdings, Inc. (NASDAQ:MEDP) has been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $380.56.

Several research firms have commented on MEDP. TD Cowen lowered their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird increased their price objective on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the company from $420.00 to $350.00 in a report on Friday, September 27th. Finally, Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $336.82 on Friday. The business has a 50 day simple moving average of $341.03 and a 200 day simple moving average of $358.11. Medpace has a 52 week low of $281.16 and a 52 week high of $459.77. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.80 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same period in the previous year, the firm posted $2.22 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that Medpace will post 11.93 EPS for the current year.

Institutional Trading of Medpace

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stone House Investment Management LLC acquired a new position in shares of Medpace during the third quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new position in Medpace in the 3rd quarter valued at approximately $37,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Medpace in the 2nd quarter worth approximately $52,000. Capital Performance Advisors LLP acquired a new stake in shares of Medpace during the 3rd quarter worth approximately $46,000. Finally, True Wealth Design LLC increased its position in shares of Medpace by 16,800.0% during the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock valued at $56,000 after purchasing an additional 168 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.