Medpace (NASDAQ:MEDP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research report released on Thursday.

A number of other equities analysts have also issued reports on MEDP. Guggenheim decreased their price objective on Medpace from $464.00 to $432.00 and set a buy rating for the company in a report on Wednesday, July 24th. Mizuho assumed coverage on Medpace in a report on Tuesday, May 28th. They set a buy rating and a $435.00 price target on the stock. Robert W. Baird cut their price objective on shares of Medpace from $469.00 to $430.00 and set an outperform rating on the stock in a research note on Wednesday, July 24th. William Blair reiterated an outperform rating on shares of Medpace in a research report on Tuesday, July 23rd. Finally, TD Cowen dropped their price target 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $423.00.

Medpace Stock Performance

MEDP stock opened at $347.40 on Thursday. The stock’s fifty day moving average is $392.23 and its two-hundred day moving average is $395.70. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 1.85 and a beta of 1.36. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share 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 for the quarter, compared to the consensus estimate of $528.41 million. During the same period last year, the firm posted $1.93 EPS. Medpace’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, analysts predict that Medpace will post 11.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Medpace

Several hedge funds have recently made changes to their positions in MEDP. Truist Financial Corp increased its holdings in shares of Medpace by 39.0% in the fourth quarter. Truist Financial Corp now owns 3,688 shares of the company’s stock valued at $1,130,000 after buying an additional 1,035 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Medpace by 21.5% during the fourth quarter. Victory Capital Management Inc. now owns 68,657 shares of the company’s stock worth $21,045,000 after purchasing an additional 12,127 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Medpace in the 4th quarter valued at $227,000. M&T Bank Corp boosted its position in shares of Medpace by 129.1% in the 4th quarter. M&T Bank Corp now owns 2,990 shares of the company’s stock valued at $917,000 after purchasing an additional 1,685 shares during the period. Finally, Private Advisor Group LLC purchased a new position in Medpace in the 4th quarter worth about $296,000. Institutional investors and hedge funds 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.