Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $380.56 Average PT from Analysts

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $380.56.

A number of equities research analysts have issued reports on MEDP shares. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and cut their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and reduced their price target for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Redburn Atlantic assumed coverage on Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their price target on Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th.

Medpace Trading Down 6.0 %

MEDP opened at $330.91 on Friday. Medpace has a 12 month low of $277.72 and a 12 month high of $459.77. The business’s 50-day moving average price is $341.82 and its 200-day moving average price is $358.42. The company has a market cap of $10.29 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.91 and a beta of 1.36.

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

Institutional Trading of Medpace

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stone House Investment Management LLC purchased a new position in Medpace during the third quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Medpace in the 3rd quarter worth about $37,000. Capital Performance Advisors LLP bought a new position in Medpace in the 3rd quarter worth about $46,000. Ashton Thomas Private Wealth LLC purchased a new stake in Medpace during the 2nd quarter valued at about $52,000. Finally, True Wealth Design LLC increased its stake in Medpace by 16,800.0% during the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company’s stock valued at $56,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

About Medpace

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.