Medpace (NASDAQ:MEDP) PT Lowered to $413.00 at Robert W. Baird

Medpace (NASDAQ:MEDP) had its price target lowered by Robert W. Baird from $430.00 to $413.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 11.87% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Guggenheim decreased their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, TD Cowen cut their price target on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Medpace currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.88.

Medpace Price Performance

Shares of Medpace stock opened at $369.18 on Friday. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. Medpace has a one year low of $227.21 and a one year high of $459.77. The stock’s 50-day moving average is $379.70 and its 200-day moving average is $392.28.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping 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 business had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. On average, equities analysts expect that Medpace will post 11.66 EPS for the current year.

Institutional Trading of Medpace

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after purchasing an additional 142,591 shares during the period. TD Asset Management Inc increased its holdings in Medpace by 22.9% in 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 in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Medpace by 38.3% during the second 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 in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Medpace by 15.3% during the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Medpace by 55.1% during the second 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 during the last quarter. 77.98% of the stock is currently owned by 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.