Medpace (NASDAQ:MEDP) Price Target Lowered to $333.00 at Truist Financial

Medpace (NASDAQ:MEDP) had its target price reduced by equities research analysts at Truist Financial from $347.00 to $333.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 11.85% from the stock’s previous close.

A number of other research firms also recently issued reports on MEDP. Robert W. Baird lifted their target price on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Leerink Partnrs raised Medpace to a “hold” rating in a research report on Monday, March 24th. Mizuho cut their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Leerink Partners initiated coverage on shares of Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $361.90.

Medpace Stock Up 5.5 %

Shares of MEDP opened at $297.72 on Thursday. The company has a 50 day moving average of $323.58 and a 200-day moving average of $334.41. The stock has a market capitalization of $9.00 billion, a P/E ratio of 23.57, a P/E/G ratio of 3.81 and a beta of 1.46. Medpace has a twelve month low of $272.00 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. On average, sell-side analysts anticipate that Medpace will post 12.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pallas Capital Advisors LLC grew its position in shares of Medpace by 179.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock valued at $1,086,000 after purchasing an additional 2,101 shares during the last quarter. Barclays PLC boosted its stake in Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock valued at $6,603,000 after purchasing an additional 8,275 shares during the period. Sanctuary Advisors LLC boosted its stake in Medpace by 20.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock valued at $1,738,000 after purchasing an additional 844 shares during the period. SYM FINANCIAL Corp bought a new position in Medpace during the 4th quarter worth $320,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Medpace during the 4th quarter worth $9,335,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

About Medpace

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.