Medpace (NASDAQ:MEDP) Downgraded to “Hold” at Baird R W

Baird R W downgraded shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

MEDP has been the subject of a number of other research reports. Truist Financial cut their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. TD Cowen reduced their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. 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 report on Wednesday, July 24th. Finally, Robert W. Baird downgraded shares of Medpace from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $413.00 to $349.00 in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Medpace currently has a consensus rating of “Hold” and a consensus price target of $380.00.

Medpace Stock Performance

MEDP stock opened at $330.22 on Wednesday. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 1.74 and a beta of 1.35. The business’s 50-day moving average is $351.45 and its two-hundred day moving average is $381.28. Medpace has a fifty-two week low of $239.00 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. The firm had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 EPS. Equities analysts predict that Medpace will post 11.77 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. boosted its holdings in shares of Medpace by 24.5% during the 1st quarter. Sunbelt Securities Inc. now owns 514 shares of the company’s stock valued at $208,000 after purchasing an additional 101 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Medpace by 16.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,340 shares of the company’s stock valued at $4,179,000 after buying an additional 1,446 shares during the last quarter. State of Michigan Retirement System grew its holdings in Medpace by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 5,699 shares of the company’s stock valued at $2,303,000 after buying an additional 100 shares in the last quarter. Norden Group LLC increased its stake in Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock worth $11,914,000 after acquiring an additional 24,466 shares during the last quarter. Finally, Arcus Capital Partners LLC raised its holdings in shares of Medpace by 15.7% during the 1st quarter. Arcus Capital Partners LLC now owns 965 shares of the company’s stock worth $390,000 after acquiring an additional 131 shares in the last quarter. 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.