Medpace (NASDAQ:MEDP) Price Target Lowered to $413.00 at Robert W. Baird

Medpace (NASDAQ:MEDP) had its price target reduced by Robert W. Baird from $430.00 to $413.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on MEDP. William Blair reissued an outperform rating on shares of Medpace in a research note on Wednesday, September 11th. Truist Financial started coverage on shares of Medpace in a research note on Thursday, August 1st. They issued a hold rating and a $415.00 target price for the company. Guggenheim dropped 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. StockNews.com lowered Medpace from a buy rating to a hold rating in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Medpace from $395.00 to $336.00 and set a hold rating on the stock in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $420.88.

Medpace Price Performance

Medpace stock opened at $361.95 on Friday. The business has a 50 day simple moving average of $376.50 and a 200 day simple moving average of $391.48. The company has a market capitalization of $11.21 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. Medpace has a one year low of $227.21 and a one year high of $459.77.

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

Institutional Investors Weigh In On Medpace

Large investors have recently made changes to their positions in the stock. Westwind Capital boosted its stake in Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after purchasing an additional 338,610 shares during the period. TD Asset Management Inc lifted its holdings in shares of Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Findlay Park Partners LLP acquired a new position in shares of Medpace during the first quarter worth about $90,247,000. Clearbridge Investments LLC grew its holdings in shares of Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after buying an additional 195,698 shares in the last quarter. Finally, Norges Bank acquired a new stake in Medpace in the 4th quarter valued at approximately $59,163,000. 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.