Medpace (NASDAQ:MEDP) Earns Outperform Rating from William Blair

Medpace (NASDAQ:MEDP)‘s stock had its “outperform” rating reissued by equities research analysts at William Blair in a research report issued to clients and investors on Tuesday, Benzinga reports.

A number of other equities analysts have also weighed in on MEDP. TD Cowen reduced their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Truist Financial cut their price target on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $394.00.

Medpace Stock Down 8.9 %

Shares of NASDAQ:MEDP traded down $31.29 during trading on Tuesday, hitting $321.63. The stock had a trading volume of 882,823 shares, compared to its average volume of 269,698. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The stock has a 50-day simple moving average of $355.97 and a two-hundred day simple moving average of $383.09. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its stake in Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after purchasing an additional 107,108 shares during the last quarter. Renaissance Technologies LLC grew its stake in Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after acquiring an additional 122,800 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in Medpace by 15.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after acquiring an additional 53,983 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Medpace by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after purchasing an additional 6,137 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

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.