Medpace (NASDAQ:MEDP) Research Coverage Started at Redburn Atlantic

Redburn Atlantic assumed coverage on shares of Medpace (NASDAQ:MEDP) in a research note published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $404.00 price target on the stock.

MEDP has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Guggenheim decreased their price target on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Truist Financial assumed coverage on Medpace in a research note on Thursday, August 1st. They set a “hold” rating and a $415.00 price target on the stock. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Finally, StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $394.00.

Medpace Stock Performance

Shares of Medpace stock opened at $346.50 on Monday. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The stock has a 50 day moving average of $357.82 and a 200 day moving average of $384.08.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share 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 return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 earnings per share. Analysts forecast that Medpace will post 11.64 EPS for the current year.

Hedge Funds Weigh In On Medpace

Several large investors have recently bought and sold shares of MEDP. Vanguard Group Inc. increased its holdings in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after buying an additional 142,591 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Medpace by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,750 shares of the company’s stock valued at $2,682,000 after buying an additional 488 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Medpace in the fourth quarter valued at $89,000. Los Angeles Capital Management LLC increased its holdings in Medpace by 2.5% in the first quarter. Los Angeles Capital Management LLC now owns 260,445 shares of the company’s stock valued at $105,259,000 after buying an additional 6,320 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Medpace by 43.3% in the first quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock valued at $60,000 after buying an additional 45 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.