Medpace (NASDAQ:MEDP) Price Target Cut to $413.00 by Analysts at Robert W. Baird

Medpace (NASDAQ:MEDP) had its price target decreased by investment analysts at Robert W. Baird from $430.00 to $413.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 11.87% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on MEDP. Mizuho assumed coverage on shares of Medpace in a report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. Guggenheim lowered their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, TD Cowen cut their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $420.88.

Medpace Price Performance

MEDP opened at $369.18 on Friday. The company has a market capitalization of $11.44 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The business has a 50-day moving average of $379.70 and a 200-day moving average of $392.28.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 earnings per share. On average, equities research analysts expect that Medpace will post 11.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new position in Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. acquired a new position in shares of Medpace in the 1st quarter valued at $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Medpace during the first quarter worth $31,000. DT Investment Partners LLC bought a new stake in Medpace in the second quarter valued at about $41,000. Finally, J.Safra Asset Management Corp lifted its stake in Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after buying an additional 47 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.