Robert W. Baird Increases Medpace (NASDAQ:MEDP) Price Target to $354.00

Medpace (NASDAQ:MEDP) had its target price lifted by equities research analysts at Robert W. Baird from $349.00 to $354.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 5.61% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Redburn Atlantic started coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and reduced their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Performance

NASDAQ:MEDP opened at $335.21 on Monday. Medpace has a one year low of $268.80 and a one year high of $459.77. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.87 and a beta of 1.37. The firm’s fifty day moving average is $339.37 and its two-hundred day moving average is $372.21.

Medpace (NASDAQ:MEDP) last posted its quarterly 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 net margin of 17.66% and a return on equity of 50.87%. The company 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 earned $2.22 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts predict that Medpace will post 11.93 earnings per share for the current fiscal year.

Institutional Trading of Medpace

A number of hedge funds have recently bought and sold shares of MEDP. Westwind Capital grew its stake in shares of Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after buying an additional 338,610 shares during the period. Iron Triangle Partners LP purchased a new stake in shares of Medpace in the 3rd quarter valued at approximately $64,371,000. Clearbridge Investments LLC grew its stake in shares of Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after buying an additional 143,481 shares during the period. Renaissance Technologies LLC boosted its position in shares of Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Medpace by 62.3% during the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after purchasing an additional 119,257 shares during the period. Institutional investors and hedge funds 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.