Medpace (NASDAQ:MEDP) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research note released on Wednesday morning.

A number of other research firms have also commented on MEDP. Guggenheim dropped their price objective on Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Mizuho initiated coverage on Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 price target on the stock. TD Cowen lowered their price target on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Truist Financial initiated coverage on Medpace in a research note on Thursday, August 1st. They set a hold rating and a $415.00 price target on the stock. Finally, Robert W. Baird lowered their price target on Medpace from $469.00 to $430.00 and set an outperform rating on the stock in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Medpace currently has a consensus rating of Moderate Buy and a consensus price target of $420.88.

Medpace Stock Performance

Medpace stock opened at $365.70 on Wednesday. The business’s 50-day simple moving average is $378.15 and its 200-day simple moving average is $391.95. The firm has a market capitalization of $11.33 billion, a PE ratio of 37.28, a PEG ratio of 1.74 and a beta of 1.36. Medpace has a 52 week low of $227.21 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The business had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 earnings per share. Research analysts forecast that Medpace will post 11.66 earnings per share for the current year.

Institutional Investors Weigh In On Medpace

Several large investors have recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in shares of Medpace in the 1st quarter worth approximately $27,000. Mather Group LLC. acquired a new position in Medpace during the 1st quarter worth $28,000. Fidelis Capital Partners LLC bought a new stake in shares of Medpace during the 1st quarter valued at $31,000. 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 acquiring an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in shares of Medpace during the 2nd quarter valued at $41,000. 77.98% of the stock is currently owned by 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.