StockNews.com Lowers Medpace (NASDAQ:MEDP) to Hold

Medpace (NASDAQ:MEDP) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other analysts also recently issued reports on the stock. Mizuho began coverage on shares of Medpace in a research note on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. Guggenheim decreased their target price on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Wednesday, September 11th. Robert W. Baird decreased their price target on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reduced 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Medpace presently has a consensus rating of “Moderate Buy” and a consensus price target of $423.00.

Medpace Stock Performance

MEDP stock traded up $6.64 during midday trading on Wednesday, reaching $361.29. 245,493 shares of the company traded hands, compared to its average volume of 249,547. The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 1.74 and a beta of 1.36. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The business has a 50 day moving average of $381.01 and a 200-day moving average of $392.44.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $528.41 million. During the same period last year, the company earned $1.93 earnings per share. Medpace’s revenue was up 14.6% on a year-over-year basis. Research analysts anticipate that Medpace will post 11.66 earnings per share for the current year.

Institutional Trading of Medpace

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Medpace during the 1st quarter valued at $27,000. Mather Group LLC. acquired a new stake in Medpace in the first quarter worth about $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of Medpace during the first quarter worth about $31,000. J.Safra Asset Management Corp grew its stake in shares of Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after acquiring an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in shares of Medpace during the second quarter valued at about $41,000. 77.98% of the stock is 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.