Analysts Set Medpace Holdings, Inc. (NASDAQ:MEDP) Target Price at $380.56

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have received a consensus rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $380.56.

A number of analysts have recently issued reports on MEDP shares. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and dropped their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and lowered their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen cut their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd.

Hedge Funds Weigh In On Medpace

Hedge funds and other institutional investors have recently made changes to their positions in the business. DT Investment Partners LLC purchased a new position in Medpace during the 2nd quarter valued at $41,000. Stone House Investment Management LLC bought a new stake in shares of Medpace during the 3rd quarter valued at about $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Medpace during the third quarter valued at about $37,000. Ashton Thomas Private Wealth LLC bought a new position in Medpace in the second quarter worth about $52,000. Finally, Capital Performance Advisors LLP purchased a new stake in Medpace in the third quarter worth about $46,000. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 0.6 %

MEDP stock opened at $337.28 on Wednesday. Medpace has a 12 month low of $277.72 and a 12 month high of $459.77. The firm has a market capitalization of $10.48 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The firm has a 50 day moving average of $339.14 and a 200-day moving average of $366.30.

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

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.