Medpace (NASDAQ:MEDP) Downgraded by StockNews.com

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

A number of other research analysts also recently issued reports on the stock. William Blair reissued an outperform rating on shares of Medpace in a research report on Wednesday, September 11th. Guggenheim dropped their target price on shares of Medpace from $464.00 to $432.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group lowered shares of Medpace from a buy rating to a hold rating and decreased their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research note on Wednesday, July 24th. Finally, Truist Financial started coverage on shares of Medpace in a research note on Thursday, August 1st. They set a hold rating and a $415.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Medpace presently has a consensus rating of Moderate Buy and an average price target of $395.00.

Medpace Stock Up 0.7 %

Shares of Medpace stock opened at $333.80 on Friday. The company’s fifty day simple moving average is $368.39 and its two-hundred day simple moving average is $389.44. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The firm has a market cap of $10.34 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35.

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

Institutional Trading of Medpace

A number of institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Medpace by 4.9% during the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after purchasing an additional 26 shares during the last quarter. Wealth Alliance raised its stake in Medpace by 2.9% during the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after buying an additional 27 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after buying an additional 32 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Medpace by 5.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after buying an additional 39 shares during the last quarter. Finally, Journey Advisory Group LLC boosted its stake in shares of Medpace by 1.9% in the 2nd quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock worth $984,000 after buying an additional 44 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

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.