Medpace Holdings, Inc. (NASDAQ:MEDP) Given Consensus Rating of “Moderate Buy” by Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $395.00.

A number of equities analysts have weighed in on MEDP shares. Robert W. Baird decreased their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. TD Cowen lowered their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th.

Medpace Stock Up 1.7 %

NASDAQ MEDP opened at $338.16 on Friday. Medpace has a twelve month low of $227.21 and a twelve month high of $459.77. The firm has a market capitalization of $10.48 billion, a PE ratio of 34.47, a P/E/G ratio of 1.88 and a beta of 1.35. The stock’s 50 day moving average is $362.27 and its 200 day moving average is $386.78.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its position in Medpace by 82.6% in the 3rd quarter. CWM LLC now owns 4,241 shares of the company’s stock worth $1,416,000 after purchasing an additional 1,918 shares during the period. Kesler Norman & Wride LLC bought a new stake in shares of Medpace in the third quarter worth $379,000. Azzad Asset Management Inc. ADV purchased a new stake in Medpace during the third quarter valued at $262,000. Handelsbanken Fonder AB lifted its holdings in Medpace by 31.9% in the third quarter. Handelsbanken Fonder AB now owns 6,200 shares of the company’s stock valued at $2,070,000 after acquiring an additional 1,500 shares during the period. Finally, HBW Advisory Services LLC purchased a new position in Medpace in the third quarter worth about $239,000. 77.98% of the stock is owned by hedge funds and other 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.