Robert W. Baird Issues Positive Forecast for Medpace (NASDAQ:MEDP) Stock Price

Medpace (NASDAQ:MEDP) had its price objective upped by Robert W. Baird from $349.00 to $354.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently commented on the stock. Redburn Atlantic assumed coverage on shares of Medpace in a research note on Monday, October 14th. They set a “buy” rating and a $404.00 target price for the company. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. TD Cowen decreased their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Medpace has a consensus rating of “Hold” and a consensus price target of $380.56.

Medpace Trading Up 1.1 %

NASDAQ MEDP opened at $338.96 on Monday. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.87 and a beta of 1.37. The stock has a 50-day moving average of $338.93 and a 200 day moving average of $371.98. Medpace has a twelve month low of $268.80 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results 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. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same period in the prior year, the company posted $2.22 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Medpace will post 11.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MEDP. State Street Corp raised its stake in Medpace by 7.2% during the third quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after purchasing an additional 50,312 shares during the period. Geode Capital Management LLC grew its stake in shares of Medpace by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock valued at $209,885,000 after buying an additional 44,371 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after buying an additional 122,800 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Medpace by 36.0% during the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after buying an additional 109,886 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after acquiring an additional 143,481 shares during the last quarter. Institutional investors and hedge funds 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.