Medpace (NASDAQ:MEDP) Stock Rating Lowered by TD Cowen

Medpace (NASDAQ:MEDP) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Monday, MarketBeat reports. They presently have a $328.00 price objective on the stock, down from their previous price objective of $370.00. TD Cowen’s target price would suggest a potential upside of 7.54% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Robert W. Baird upped their target price on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Leerink Partnrs raised shares of Medpace to a “hold” rating in a research note on Monday, March 24th. Leerink Partners started coverage on Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 price target on the stock. Truist Financial lowered their price objective on Medpace from $347.00 to $333.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Mizuho decreased their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $357.50.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $305.00 on Monday. The firm’s 50-day moving average is $321.46 and its two-hundred day moving average is $334.08. Medpace has a 12-month low of $272.00 and a 12-month high of $459.77. The company has a market capitalization of $9.22 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46.

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

Hedge Funds Weigh In On Medpace

Several hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new position in Medpace in the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Medpace in the 4th quarter valued at $31,000. Jones Financial Companies Lllp lifted its holdings in shares of Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after acquiring an additional 110 shares in the last quarter. Lindbrook Capital LLC boosted its position in Medpace by 27.6% during the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after purchasing an additional 29 shares during the period. Finally, Assetmark Inc. increased its holdings in Medpace by 20.1% in the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after purchasing an additional 29 shares in the last quarter. 77.98% of the stock is 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.