Medpace (NASDAQ:MEDP) Downgraded to Hold at Jefferies Financial Group

Medpace (NASDAQ:MEDP) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Briefing.com reports. They presently have a $345.00 price objective on the stock, down from their previous price objective of $415.00. Jefferies Financial Group’s price objective indicates a potential downside of 3.04% from the company’s previous close.

A number of other research firms have also recently weighed in on MEDP. Deutsche Bank Aktiengesellschaft cut their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. TD Cowen lowered their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. 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. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. Finally, Mizuho began coverage on shares of Medpace in a research note on Tuesday, May 28th. They set a “buy” rating and a $435.00 price objective on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $407.75.

Medpace Stock Down 1.7 %

Shares of NASDAQ MEDP opened at $355.82 on Wednesday. The firm’s 50-day moving average price is $374.47 and its two-hundred day moving average price is $391.13. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The stock has a market capitalization of $11.03 billion, a P/E ratio of 36.27, a P/E/G ratio of 1.88 and a beta of 1.35.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEDP. Westwind Capital grew its position in Medpace by 800.1% in the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after buying an additional 338,610 shares during the last quarter. TD Asset Management Inc grew its position in Medpace by 195.2% during the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Findlay Park Partners LLP purchased a new position in Medpace during the 1st quarter worth approximately $90,247,000. Clearbridge Investments LLC grew its position in Medpace by 302.4% during the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after purchasing an additional 195,698 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Medpace by 82.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock worth $108,040,000 after purchasing an additional 159,144 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.