Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $423.00 Consensus Target Price from Analysts

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $423.00.

A number of analysts recently commented on MEDP shares. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Mizuho began coverage on shares of Medpace in a research report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price target for the company. TD Cowen lowered their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, 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 research note on Wednesday, July 24th.

Institutional Trading of Medpace

A number of institutional investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. bought a new stake in Medpace during the 2nd quarter valued at $163,000. Sanctuary Advisors LLC purchased a new position in shares of Medpace in the second quarter valued at $1,346,000. Clearbridge Investments LLC raised its stake in shares of Medpace by 55.1% during 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 period. Cetera Investment Advisers lifted its holdings in Medpace by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 11,757 shares of the company’s stock worth $4,842,000 after purchasing an additional 263 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Medpace by 21.2% in the 2nd quarter. Truist Financial Corp now owns 3,700 shares of the company’s stock worth $1,524,000 after purchasing an additional 648 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Price Performance

MEDP opened at $334.57 on Monday. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 1.74 and a beta of 1.36. The firm’s fifty day moving average price is $386.45 and its two-hundred day moving average price is $394.13.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same quarter last year, the business posted $1.93 EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities analysts anticipate that Medpace will post 11.66 EPS for the current year.

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.