Medpace (NASDAQ:MEDP) Stock Rating Reaffirmed by William Blair

Medpace (NASDAQ:MEDP)‘s stock had its “outperform” rating reiterated by investment analysts at William Blair in a research report issued on Tuesday, Benzinga reports.

A number of other brokerages have also issued reports on MEDP. TD Cowen decreased their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial lowered their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird decreased their price target on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $380.00.

Medpace Trading Up 1.1 %

NASDAQ MEDP opened at $330.07 on Tuesday. The company has a 50-day moving average price of $353.71 and a two-hundred day moving average price of $382.20. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. Medpace has a 52 week low of $239.00 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.77 by $0.24. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. During the same period last year, the firm earned $2.22 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Medpace will post 11.64 earnings per share for the current fiscal year.

Institutional Trading of Medpace

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Medpace by 17.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,243 shares of the company’s stock valued at $412,000 after buying an additional 185 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Medpace by 4.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the company’s stock valued at $2,337,000 after purchasing an additional 300 shares during the period. Argent Capital Management LLC lifted its position in shares of Medpace by 431.5% in the third quarter. Argent Capital Management LLC now owns 91,732 shares of the company’s stock worth $30,620,000 after purchasing an additional 74,473 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Medpace by 38,432.9% during the third quarter. International Assets Investment Management LLC now owns 57,414 shares of the company’s stock worth $19,165,000 after purchasing an additional 57,265 shares during the period. Finally, Lecap Asset Management Ltd. grew its position in Medpace by 107.3% during the third quarter. Lecap Asset Management Ltd. now owns 10,119 shares of the company’s stock valued at $3,378,000 after purchasing an additional 5,238 shares in the last quarter. Hedge funds and other institutional investors 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.