Medpace (NASDAQ:MEDP) Downgraded by StockNews.com

Medpace (NASDAQ:MEDP) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research firms have also recently issued reports on MEDP. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. Robert W. Baird lowered their price target on Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Truist Financial assumed coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Finally, Guggenheim reduced their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $407.75.

Medpace Trading Up 1.8 %

Shares of MEDP opened at $326.26 on Friday. The firm has a market cap of $10.11 billion, a P/E ratio of 33.26, a PEG ratio of 1.88 and a beta of 1.35. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77. The stock’s 50 day moving average is $372.14 and its two-hundred day moving average is $390.64.

Medpace (NASDAQ:MEDP) last issued its quarterly 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. The company had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 EPS. Equities research analysts forecast that Medpace will post 11.66 EPS for the current year.

Institutional Investors Weigh In On Medpace

Hedge funds have recently modified their holdings of the company. FORA Capital LLC acquired a new position in Medpace in the 1st quarter valued at about $2,222,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Medpace in the first quarter worth approximately $5,179,000. Eagle Asset Management Inc. increased its stake in Medpace by 155.0% during the fourth quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock worth $69,409,000 after acquiring an additional 137,632 shares during the last quarter. Evoke Wealth LLC purchased a new stake in Medpace in the fourth quarter valued at $3,149,000. Finally, Norden Group LLC lifted 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. Hedge funds and other 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.