Medpace (NASDAQ:MEDP) Downgraded to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of Medpace (NASDAQ:MEDP) from an outperform rating to a neutral rating in a report issued on Wednesday morning, Marketbeat Ratings reports. Robert W. Baird currently has $349.00 target price on the stock, down from their previous target price of $413.00.

A number of other research analysts have also weighed in on MEDP. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Guggenheim lowered their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Redburn Atlantic initiated coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday. Finally, UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Price Performance

Medpace stock opened at $330.07 on Wednesday. The business has a 50 day simple moving average of $353.71 and a 200-day simple moving average of $382.20. Medpace has a 12 month low of $239.00 and a 12 month high of $459.77. The stock has a market capitalization of $10.23 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same quarter last year, the firm earned $2.22 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Medpace will post 11.64 EPS for the current year.

Institutional Trading of Medpace

Several institutional investors and hedge funds have recently made changes to their positions in MEDP. Signaturefd LLC lifted its holdings in Medpace by 4.9% in the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after purchasing an additional 26 shares in the last quarter. Wealth Alliance lifted its stake in shares of Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after buying an additional 27 shares during the period. Commonwealth Equity Services LLC boosted its position in Medpace by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after acquiring an additional 32 shares during the last quarter. Journey Advisory Group LLC boosted its position in Medpace by 1.9% during the second quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock worth $984,000 after acquiring an additional 44 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Medpace by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 633 shares of the company’s stock worth $261,000 after acquiring an additional 46 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

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.