Brokerages Set Medpace Holdings, Inc. (NASDAQ:MEDP) PT at $380.00

Medpace Holdings, Inc. (NASDAQ:MEDP) has earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $380.00.

MEDP has been the subject of a number of recent analyst reports. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Guggenheim reduced their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Redburn Atlantic started coverage on shares of Medpace in a research note on Monday, October 14th. They set a “buy” rating and a $404.00 target price for the company. Finally, Truist Financial decreased their price target 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.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $314.22 on Tuesday. The firm’s 50 day simple moving average is $346.02 and its 200-day simple moving average is $379.14. Medpace has a 12 month low of $239.00 and a 12 month high of $459.77. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.74 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same period in the prior year, the company posted $2.22 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts anticipate that Medpace will post 11.77 earnings per share for the current fiscal year.

Institutional Trading of Medpace

Large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Medpace in the first quarter valued at about $31,000. DT Investment Partners LLC acquired a new stake in shares of Medpace during the 2nd quarter worth approximately $41,000. J.Safra Asset Management Corp raised its position in shares of Medpace by 87.0% during the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after buying an additional 47 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Medpace during the 2nd quarter valued at approximately $52,000. Finally, EntryPoint Capital LLC acquired a new position in Medpace in the first quarter valued at approximately $54,000. 77.98% of the stock is currently owned by hedge funds and other 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.