Analysts Set Medpace Holdings, Inc. (NASDAQ:MEDP) Price Target at $380.00

Medpace Holdings, Inc. (NASDAQ:MEDP) has received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $380.56.

Several equities analysts recently weighed in on MEDP shares. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Redburn Atlantic initiated coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen dropped their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Medpace by 7.2% in the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after purchasing an additional 50,312 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Medpace by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock worth $209,885,000 after purchasing an additional 44,371 shares during the last quarter. Renaissance Technologies LLC increased its position 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 purchasing an additional 122,800 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Medpace by 36.0% during the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after buying an additional 109,886 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Medpace by 55.1% during the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after acquiring an additional 143,481 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 0.5 %

NASDAQ:MEDP opened at $340.63 on Friday. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.88 and a beta of 1.37. The firm’s fifty day simple moving average is $337.82 and its 200 day simple moving average is $371.41. Medpace has a twelve month low of $268.80 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.22 EPS. On average, analysts predict that Medpace will post 11.93 earnings per share for the current year.

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.