Medpace Holdings, Inc. (NASDAQ:MEDP) Receives Average Recommendation of “Hold” from Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has been given a consensus recommendation of “Hold” by the eleven analysts that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $380.00.

MEDP has been the topic of several research reports. Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $413.00 to $349.00 in a report on Wednesday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Redburn Atlantic began coverage on Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, TD Cowen lowered their price objective 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.

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently modified their holdings of MEDP. Westwind Capital grew its holdings in shares of Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after acquiring an additional 338,610 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Medpace in the 3rd quarter valued at $64,371,000. Clearbridge Investments LLC lifted its stake in shares of Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after purchasing an additional 143,481 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after purchasing an additional 122,800 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Medpace by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after purchasing an additional 119,257 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $337.75 on Friday. Medpace has a 12 month low of $268.80 and a 12 month high of $459.77. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.74 and a beta of 1.37. The stock’s 50 day moving average price is $340.42 and its 200 day moving average price is $373.77.

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

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.