Medpace Holdings, Inc. (NASDAQ:MEDP) Receives Average Recommendation of “Hold” from Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has received a consensus rating of “Hold” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $380.00.

MEDP has been the topic of a number of recent research reports. Truist Financial decreased their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Redburn Atlantic initiated coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the company from $420.00 to $350.00 in a report on Friday, September 27th.

Medpace Stock Down 0.3 %

Shares of MEDP stock opened at $329.35 on Tuesday. The stock has a market cap of $10.20 billion, a P/E ratio of 33.57, a PEG ratio of 1.74 and a beta of 1.35. The company’s fifty day simple moving average is $351.45 and its two-hundred day simple moving average is $381.00. Medpace has a 52 week low of $239.00 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. During the same period in the prior year, the company earned $2.22 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that Medpace will post 11.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR raised its stake in shares of Medpace by 16.4% during the third quarter. Stephens Inc. AR now owns 717 shares of the company’s stock valued at $239,000 after acquiring an additional 101 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in Medpace by 3.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 120,634 shares of the company’s stock worth $40,268,000 after purchasing an additional 3,889 shares during the period. US Bancorp DE raised its position in Medpace by 59.3% during the 3rd quarter. US Bancorp DE now owns 8,100 shares of the company’s stock valued at $2,704,000 after purchasing an additional 3,016 shares in the last quarter. Diversify Wealth Management LLC lifted its holdings in shares of Medpace by 16.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 1,434 shares of the company’s stock worth $473,000 after buying an additional 202 shares during the period. Finally, Davidson Capital Management Inc. grew its position in shares of Medpace by 8.1% during the 3rd quarter. Davidson Capital Management Inc. now owns 8,393 shares of the company’s stock worth $2,802,000 after buying an additional 629 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

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.