Medpace (NASDAQ:MEDP) Rating Lowered to Neutral at UBS Group

Medpace (NASDAQ:MEDP) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Briefing.com reports. They currently have a $350.00 target price on the stock, down from their prior target price of $420.00. UBS Group’s price target points to a potential upside of 7.28% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird cut their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. William Blair restated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and cut their price objective for the stock from $415.00 to $345.00 in a report on Wednesday. Finally, Truist Financial started coverage on Medpace in a report on Thursday, August 1st. They set a “hold” rating and a $415.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Medpace has an average rating of “Moderate Buy” and an average price target of $395.00.

Medpace Stock Up 1.8 %

Shares of NASDAQ MEDP opened at $326.26 on Friday. The company has a market cap of $10.11 billion, a P/E ratio of 33.26, a P/E/G ratio of 1.88 and a beta of 1.35. Medpace has a 52 week low of $227.21 and a 52 week high of $459.77. The business has a 50-day simple moving average of $372.14 and a two-hundred day simple moving average of $390.64.

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

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently bought and sold shares of MEDP. Westwind Capital raised its stake in shares of Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after acquiring an additional 338,610 shares during the last quarter. Findlay Park Partners LLP bought a new stake in shares of Medpace in the 1st quarter worth approximately $90,247,000. Clearbridge Investments LLC increased its stake in shares of Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after buying an additional 195,698 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Medpace by 82.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after acquiring an additional 159,144 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after acquiring an additional 142,591 shares during the period. 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.