Medpace (NASDAQ:MEDP) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Medpace (NASDAQ:MEDP) had its price target increased by Robert W. Baird from $349.00 to $354.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently commented on MEDP. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and cut their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Redburn Atlantic began coverage on shares of Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Truist Financial lowered their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $380.56.

Medpace Price Performance

MEDP stock opened at $337.82 on Monday. Medpace has a one year low of $268.80 and a one year high of $459.77. The stock has a market cap of $10.50 billion, a PE ratio of 29.58, a P/E/G ratio of 1.87 and a beta of 1.37. The firm has a 50 day simple moving average of $339.76 and a two-hundred day simple moving average of $372.60.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same quarter in the previous year, the company earned $2.22 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect that Medpace will post 11.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in Medpace during the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new position in Medpace during the 3rd quarter valued at $37,000. DT Investment Partners LLC purchased a new position in Medpace during the 2nd quarter valued at $41,000. Capital Performance Advisors LLP purchased a new position in Medpace during the 3rd quarter valued at $46,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Medpace during the 2nd quarter valued at $52,000. 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.