StockNews.com Lowers Medpace (NASDAQ:MEDP) to Hold

StockNews.com lowered shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report published on Wednesday morning.

Other research analysts have also issued research reports about the company. Truist Financial began coverage on Medpace in a report on Thursday, August 1st. They set a hold rating and a $415.00 price objective on the stock. William Blair reiterated an outperform rating on shares of Medpace in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research report on Wednesday, July 24th. Guggenheim dropped their target price on shares of Medpace from $464.00 to $432.00 and set a buy rating for the company in a report on Wednesday, July 24th. Finally, TD Cowen decreased their price target on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Medpace presently has a consensus rating of Moderate Buy and an average target price of $420.88.

Medpace Stock Performance

Shares of Medpace stock opened at $365.70 on Wednesday. Medpace has a one year low of $227.21 and a one year high of $459.77. The company has a market cap of $11.33 billion, a P/E ratio of 37.28, a PEG ratio of 1.74 and a beta of 1.36. The firm has a fifty day moving average of $378.15 and a two-hundred day moving average of $392.02.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $528.41 million. During the same period in the prior year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities analysts predict that Medpace will post 11.66 earnings per share for the current year.

Institutional Trading of Medpace

Several large investors have recently modified their holdings of the business. Rise Advisors LLC purchased a new stake in Medpace in the 1st quarter valued at approximately $27,000. Mather Group LLC. purchased a new position in Medpace during the first quarter worth $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Medpace in the first quarter worth $31,000. J.Safra Asset Management Corp lifted its position in shares of Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after acquiring an additional 47 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new stake in shares of Medpace during the second quarter valued at $41,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Company Profile

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.