Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $380.00 Average Target Price from Analysts

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $380.56.

A number of research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Redburn Atlantic began coverage on shares of Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. Truist Financial reduced their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd.

Medpace Stock Performance

Shares of MEDP stock opened at $337.82 on Friday. The firm’s 50 day moving average price is $339.76 and its two-hundred day moving average price is $372.60. The stock has a market cap of $10.50 billion, a PE ratio of 29.58, a PEG ratio of 1.87 and a beta of 1.37. Medpace has a 52-week low of $268.80 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same quarter in the prior year, the company posted $2.22 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Medpace will post 11.93 earnings per share for the current fiscal year.

Institutional Trading of Medpace

A number of institutional investors have recently made changes to their positions in MEDP. Stone House Investment Management LLC acquired a new stake in Medpace in the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Medpace in the third quarter valued at about $37,000. DT Investment Partners LLC bought a new stake in Medpace during the second quarter worth about $41,000. Capital Performance Advisors LLP acquired a new stake in shares of Medpace in the 3rd quarter valued at approximately $46,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Medpace in the 2nd quarter valued at about $52,000. 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.