Medpace (NASDAQ:MEDP) Stock Rating Lowered by UBS Group

Medpace (NASDAQ:MEDP) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Friday, Marketbeat reports. They presently have a $350.00 target price on the stock, down from their prior target price of $420.00. UBS Group’s target price would indicate a potential upside of 5.60% from the company’s current price.

Several other research analysts have also issued reports on MEDP. TD Cowen lowered their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Robert W. Baird lowered their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and cut their price target for the company from $415.00 to $345.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, William Blair restated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $395.00.

Medpace Stock Performance

MEDP stock opened at $331.44 on Friday. The company has a market capitalization of $10.27 billion, a P/E ratio of 33.79, a PEG ratio of 1.88 and a beta of 1.35. The company has a fifty day moving average price of $368.39 and a 200-day moving average price of $389.69. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. The firm had revenue of $528.10 million for the quarter, compared to the consensus estimate of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. As a group, sell-side analysts forecast that Medpace will post 11.66 earnings per share for the current fiscal year.

Institutional Trading of Medpace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. bought a new position in shares of Medpace in the 1st quarter worth $28,000. Fidelis Capital Partners LLC acquired a new stake in Medpace in the 1st quarter valued at $31,000. DT Investment Partners LLC bought a new stake in Medpace during the 2nd quarter valued at $41,000. Finally, J.Safra Asset Management Corp raised its holdings in Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares during the last quarter. 77.98% of the stock is 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.