Medpace (NASDAQ:MEDP) Downgraded to “Neutral” at Robert W. Baird

Robert W. Baird downgraded shares of Medpace (NASDAQ:MEDP) from an outperform rating to a neutral rating in a research report released on Wednesday morning, Marketbeat.com reports. They currently have $349.00 price target on the stock, down from their previous price target of $413.00.

Several other brokerages have also recently commented on MEDP. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. 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 note on Wednesday, July 24th. TD Cowen cut their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and decreased their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $380.00.

Medpace Trading Up 0.7 %

NASDAQ:MEDP opened at $330.22 on Wednesday. The stock has a 50 day simple moving average of $351.45 and a 200 day simple moving average of $381.28. The stock has a market cap of $10.24 billion, a P/E ratio of 28.92, a PEG ratio of 1.74 and a beta of 1.35. Medpace has a 1-year low of $239.00 and a 1-year high of $459.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping 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 the consensus estimate of $540.99 million. During the same quarter last year, the firm earned $2.22 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Medpace will post 11.77 EPS for the current year.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently made changes to their positions in MEDP. Mather Group LLC. bought a new stake in shares of Medpace during the first quarter worth $28,000. Fidelis Capital Partners LLC bought a new stake in Medpace during the 1st quarter worth $31,000. J.Safra Asset Management Corp increased its holdings in Medpace by 87.0% in the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 47 shares in the last quarter. DT Investment Partners LLC bought a new position in Medpace in the second quarter valued at about $41,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Medpace during the second quarter valued at about $52,000. 77.98% of the stock is owned by institutional investors.

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.