Medpace (NASDAQ:MEDP) Downgraded by StockNews.com to “Hold”

Medpace (NASDAQ:MEDP) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently commented on MEDP. Truist Financial initiated coverage on Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. TD Cowen decreased their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Guggenheim cut their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, Robert W. Baird lowered their price target on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Medpace presently has an average rating of “Moderate Buy” and a consensus price target of $423.00.

Medpace Stock Up 1.9 %

NASDAQ:MEDP traded up $6.64 on Wednesday, hitting $361.29. The stock had a trading volume of 245,493 shares, compared to its average volume of 249,547. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. The business’s 50-day simple moving average is $381.01 and its two-hundred day simple moving average is $392.44.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company had revenue of $528.10 million for the quarter, compared to the consensus estimate of $528.41 million. During the same quarter last year, the firm posted $1.93 earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Medpace will post 11.66 EPS for the current year.

Institutional Trading of Medpace

A number of institutional investors and hedge funds have recently bought and sold shares of MEDP. Newbridge Financial Services Group Inc. purchased a new position in shares of Medpace during the second quarter valued at about $163,000. Sanctuary Advisors LLC bought a new stake in Medpace in the 2nd quarter worth approximately $1,346,000. Clearbridge Investments LLC raised its holdings in shares of Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after acquiring an additional 143,481 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Medpace by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 11,757 shares of the company’s stock valued at $4,842,000 after acquiring an additional 263 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Medpace by 21.2% in the second quarter. Truist Financial Corp now owns 3,700 shares of the company’s stock valued at $1,524,000 after purchasing an additional 648 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.

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.