William Blair Reaffirms Outperform Rating for Medpace (NASDAQ:MEDP)

William Blair reiterated their outperform rating on shares of Medpace (NASDAQ:MEDP) in a research note released on Wednesday morning, Benzinga reports.

Other research analysts also recently issued reports about the stock. TD Cowen reduced their price objective on shares of 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 assumed coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a hold rating and a $415.00 price target on the stock. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research report on Wednesday, July 24th. Finally, Guggenheim reduced their price target on shares of Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $423.00.

Medpace Price Performance

NASDAQ MEDP opened at $351.67 on Wednesday. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. The company’s fifty day moving average price is $384.27 and its two-hundred day moving average price is $393.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data 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 the consensus estimate of $528.41 million. During the same period in the prior year, the firm posted $1.93 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. As a group, analysts anticipate that Medpace will post 11.66 EPS for the current year.

Institutional Trading of Medpace

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Medpace by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after acquiring an additional 142,591 shares during the period. TD Asset Management Inc increased its holdings in shares of Medpace by 22.9% in the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after acquiring an additional 107,108 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after acquiring an additional 122,800 shares during the period. Epoch Investment Partners Inc. increased its holdings in shares of Medpace by 15.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after acquiring an additional 53,983 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after buying an additional 143,481 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.