Medpace (NASDAQ:MEDP) Price Target Cut to $397.00 by Analysts at Truist Financial

Medpace (NASDAQ:MEDP) had its target price decreased by equities researchers at Truist Financial from $415.00 to $397.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 12.37% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. TD Cowen lowered their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird lowered their target price on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Guggenheim lowered their target price on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and lowered their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Moderate Buy” and a consensus price target of $394.00.

Medpace Stock Down 0.1 %

Shares of MEDP stock opened at $353.30 on Monday. The business has a 50-day moving average price of $358.25 and a two-hundred day moving average price of $384.34. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The firm has a market cap of $10.95 billion, a P/E ratio of 36.01, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. As a group, research analysts expect that Medpace will post 11.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Cabot Wealth Management Inc. grew its holdings in shares of Medpace by 4.5% during the 3rd quarter. Cabot Wealth Management Inc. now owns 15,625 shares of the company’s stock worth $5,216,000 after acquiring an additional 671 shares during the period. Swedbank AB purchased a new position in shares of Medpace during the 3rd quarter worth approximately $7,477,000. Willis Investment Counsel grew its holdings in shares of Medpace by 3.9% during the 3rd quarter. Willis Investment Counsel now owns 8,002 shares of the company’s stock worth $2,671,000 after acquiring an additional 300 shares during the period. Redhawk Wealth Advisors Inc. grew its holdings in shares of Medpace by 4.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 4,619 shares of the company’s stock worth $1,542,000 after acquiring an additional 207 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Medpace by 47.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,981 shares of the company’s stock worth $995,000 after acquiring an additional 963 shares during the period. 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.