Medpace Holdings, Inc. (NASDAQ:MEDP) Given Consensus Rating of “Hold” by Analysts

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $380.56.

MEDP has been the topic of a number of recent analyst reports. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Robert W. Baird raised their price target on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a report on Monday, November 25th. TD Cowen cut their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial dropped their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th.

Hedge Funds Weigh In On Medpace

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its position in Medpace by 7.2% during the third quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after buying an additional 50,312 shares during the period. Geode Capital Management LLC boosted its holdings in Medpace by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock valued at $209,885,000 after acquiring an additional 44,371 shares during the period. Renaissance Technologies LLC grew its position in 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 acquiring an additional 122,800 shares during the last quarter. Wellington Management Group LLP increased its stake in Medpace by 36.0% in the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock worth $138,612,000 after purchasing an additional 109,886 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Up 0.6 %

Shares of MEDP opened at $337.28 on Wednesday. Medpace has a twelve month low of $277.72 and a twelve month high of $459.77. The stock has a market cap of $10.48 billion, a PE ratio of 29.53, a P/E/G ratio of 1.91 and a beta of 1.37. The business’s 50-day moving average price is $339.14 and its 200-day moving average price is $365.82.

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 net margin of 17.66% and a return on equity of 50.87%. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the prior year, the firm posted $2.22 EPS. Medpace’s revenue was up 8.3% on a year-over-year basis. Analysts expect 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.