Baird R W Downgrades Medpace (NASDAQ:MEDP) to Hold

Medpace (NASDAQ:MEDP) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 target price on the stock. Guggenheim dropped their target price 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. Truist Financial lowered their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $413.00 to $349.00 in a research report on Wednesday. Finally, TD Cowen lowered their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $380.00.

Medpace Stock Down 0.6 %

MEDP opened at $328.08 on Wednesday. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a twelve month low of $239.00 and a twelve month high of $459.77. The company’s 50-day moving average price is $352.59 and its two-hundred day moving average price is $381.83.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 16.74% and a return on equity of 55.14%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.22 earnings per share. As a group, sell-side analysts anticipate that Medpace will post 11.64 earnings per share for the current year.

Institutional Trading of Medpace

A number of hedge funds and other institutional investors have recently bought and sold shares of MEDP. Sunbelt Securities Inc. increased its holdings in Medpace by 24.5% during the 1st quarter. Sunbelt Securities Inc. now owns 514 shares of the company’s stock worth $208,000 after acquiring an additional 101 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Medpace by 16.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,340 shares of the company’s stock worth $4,179,000 after buying an additional 1,446 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Medpace by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 5,699 shares of the company’s stock worth $2,303,000 after buying an additional 100 shares during the last quarter. Norden Group LLC increased its holdings in shares of Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock worth $11,914,000 after buying an additional 24,466 shares during the last quarter. Finally, Arcus Capital Partners LLC increased its holdings in shares of Medpace by 15.7% in the 1st quarter. Arcus Capital Partners LLC now owns 965 shares of the company’s stock worth $390,000 after buying an additional 131 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.