Medpace (NASDAQ:MEDP) Cut to “Neutral” at Robert W. Baird

Medpace (NASDAQ:MEDP) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, FinViz reports. They presently have a $349.00 price objective on the stock, down from their prior price objective of $413.00. Robert W. Baird’s price objective would indicate a potential upside of 6.88% from the company’s previous close.

A number of other equities research analysts have also commented on MEDP. Redburn Atlantic assumed coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective on the stock. TD Cowen decreased their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $386.89.

Medpace Price Performance

NASDAQ:MEDP opened at $326.54 on Wednesday. The company has a fifty day moving average price of $354.82 and a 200 day moving average price of $382.57. Medpace has a one year low of $227.21 and a one year high of $459.77. The stock has a market cap of $10.12 billion, a P/E ratio of 33.29, a PEG ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the prior year, the firm earned $2.22 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Medpace will post 11.64 EPS for the current year.

Institutional Trading of Medpace

Hedge funds have recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Medpace in the 1st quarter valued at approximately $28,000. Fidelis Capital Partners LLC bought a new stake in Medpace during the 1st quarter worth approximately $31,000. J.Safra Asset Management Corp increased its stake in Medpace by 87.0% during the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 47 shares in the last quarter. DT Investment Partners LLC bought a new stake in Medpace during the 2nd quarter worth approximately $41,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Medpace during the 2nd quarter worth approximately $52,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.