Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $380.56 Average PT from Brokerages

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $380.56.

MEDP has been the topic of several research reports. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and dropped their target price for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Robert W. Baird raised their price target on Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd.

Medpace Price Performance

MEDP stock opened at $330.91 on Friday. The stock has a market capitalization of $10.29 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.91 and a beta of 1.36. Medpace has a 1-year low of $277.72 and a 1-year high of $459.77. The business has a fifty day moving average price of $341.82 and a 200-day moving average price of $358.42.

Medpace (NASDAQ:MEDP) last issued 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. The business had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. Medpace’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.22 EPS. As a group, analysts anticipate that Medpace will post 11.93 earnings per share for the current year.

Institutional Investors Weigh In On Medpace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in shares of Medpace in the third quarter worth $33,000. Ashton Thomas Securities LLC bought a new position in Medpace in the 3rd quarter worth $37,000. Capital Performance Advisors LLP purchased a new stake in Medpace in the 3rd quarter worth $46,000. Ashton Thomas Private Wealth LLC bought a new stake in Medpace during the second quarter valued at about $52,000. Finally, True Wealth Design LLC lifted its position in shares of Medpace by 16,800.0% in the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock valued at $56,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

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.