Truist Financial Cuts Medpace (NASDAQ:MEDP) Price Target to $397.00

Medpace (NASDAQ:MEDP) had its price objective trimmed by Truist Financial from $415.00 to $397.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird cut their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, TD Cowen dropped their price target on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Medpace currently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $346.50 on Monday. The stock has a market cap of $10.74 billion, a PE ratio of 35.32, a PEG ratio of 1.77 and a beta of 1.35. The business has a fifty day moving average of $357.82 and a two-hundred day moving average of $384.08. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The company had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. Analysts predict that Medpace will post 11.64 earnings per share for the current year.

Institutional Trading of Medpace

Institutional investors have recently bought and sold shares of the business. FORA Capital LLC acquired a new stake in shares of Medpace during the 1st quarter worth approximately $2,222,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Medpace in the 1st quarter valued at $5,179,000. Norden Group LLC increased its stake in shares of Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after purchasing an additional 24,466 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Medpace by 322.5% during the 1st quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock worth $4,265,000 after buying an additional 8,055 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Medpace during the 1st quarter worth $9,885,000. Institutional investors own 77.98% of the company’s stock.

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.