Robert W. Baird Increases Medpace (NASDAQ:MEDP) Price Target to $354.00

Medpace (NASDAQ:MEDP) had its target price lifted by research analysts at Robert W. Baird from $349.00 to $354.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 5.61% from the company’s previous close.

Several other brokerages also recently weighed in on MEDP. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Redburn Atlantic began coverage on shares of Medpace in a research note on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen decreased their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medpace presently has a consensus rating of “Hold” and a consensus price target of $380.56.

Medpace Stock Performance

NASDAQ:MEDP opened at $335.21 on Monday. The stock has a market capitalization of $10.42 billion, a P/E ratio of 29.35, a PEG ratio of 1.87 and a beta of 1.37. The company has a 50 day moving average price of $339.37 and a 200 day moving average price of $372.21. Medpace has a fifty-two week low of $268.80 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same quarter last year, the company posted $2.22 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Research analysts forecast that Medpace will post 11.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently bought and sold shares of MEDP. O Shaughnessy Asset Management LLC acquired a new stake in Medpace during the 1st quarter worth $307,000. Advisors Asset Management Inc. raised its stake in Medpace by 106.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,735 shares of the company’s stock worth $1,105,000 after acquiring an additional 1,410 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Medpace by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 256,100 shares of the company’s stock worth $103,504,000 after acquiring an additional 3,222 shares in the last quarter. Tidal Investments LLC raised its stake in Medpace by 16.2% during the 1st quarter. Tidal Investments LLC now owns 874 shares of the company’s stock worth $353,000 after acquiring an additional 122 shares in the last quarter. Finally, Hancock Whitney Corp raised its stake in Medpace by 8.5% during the 1st quarter. Hancock Whitney Corp now owns 48,693 shares of the company’s stock worth $19,679,000 after acquiring an additional 3,832 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.