Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $381.44 Average PT from Brokerages

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $381.44.

A number of equities research analysts have issued reports on the company. TD Cowen cut their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Robert W. Baird lifted their target price on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Redburn Atlantic started coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price target on the stock.

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently modified their holdings of MEDP. State Street Corp boosted its position in shares of Medpace by 7.2% in the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after purchasing an additional 50,312 shares during the period. Geode Capital Management LLC increased its position in shares of Medpace by 7.6% in the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock worth $209,885,000 after acquiring an additional 44,371 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Medpace by 36.0% in the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after acquiring an additional 109,886 shares in the last quarter. American Capital Management Inc. boosted its stake in Medpace by 2.6% in the 3rd quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock worth $127,060,000 after purchasing an additional 9,592 shares during the period. Finally, GW&K Investment Management LLC grew its position in Medpace by 93.9% during the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock worth $91,516,000 after purchasing an additional 133,379 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Price Performance

Shares of MEDP opened at $354.51 on Thursday. Medpace has a 12-month low of $302.01 and a 12-month high of $459.77. The business’s fifty day moving average price is $343.88 and its 200 day moving average price is $349.52. The stock has a market capitalization of $11.02 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 17.66% and a return on equity of 50.87%. As a group, research analysts anticipate that Medpace will post 11.93 earnings per share for the current fiscal year.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.