Medpace (NASDAQ:MEDP) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has $345.00 price target on the stock, down from their prior price target of $415.00.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on Medpace from $395.00 to $336.00 and set a hold rating on the stock in a report on Wednesday, July 24th. Guggenheim decreased their target price on Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. StockNews.com downgraded Medpace from a buy rating to a hold rating in a research note on Wednesday, September 18th. 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 price target on the stock. Finally, Robert W. Baird lowered their price objective on shares of Medpace from $430.00 to $413.00 and set an outperform rating for the company in a research report on Friday, September 20th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Medpace currently has an average rating of Moderate Buy and a consensus target price of $395.00.

Medpace Stock Up 1.6 %

MEDP stock opened at $331.44 on Wednesday. The company has a market cap of $10.27 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. Medpace has a 52 week low of $227.21 and a 52 week high of $459.77. The business has a 50-day simple moving average of $370.19 and a 200 day simple moving average of $390.19.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.54 by $0.21. The company had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 EPS. On average, analysts anticipate that Medpace will post 11.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently added to or reduced their stakes in MEDP. Rise Advisors LLC bought a new position in shares of Medpace during the first quarter valued at $27,000. Mather Group LLC. bought a new position in Medpace during the 1st quarter worth $28,000. Fidelis Capital Partners LLC acquired a new position in Medpace during the 1st quarter worth about $31,000. J.Safra Asset Management Corp grew its position in shares of Medpace by 87.0% in 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 last quarter. Finally, DT Investment Partners LLC acquired a new stake in shares of Medpace in the second quarter valued at about $41,000. 77.98% of the stock is 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.