Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $380.00 Consensus Target Price from Brokerages

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) has received a consensus recommendation of "Hold" from the eleven ratings firms that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $380.00.

A number of equities analysts have commented on the stock. UBS Group cut shares of Medpace from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Redburn Atlantic assumed coverage on shares of Medpace in a research report on Monday, October 14th. They set a "buy" rating and a $404.00 price objective for the company. TD Cowen reduced their price objective on shares of Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. William Blair reaffirmed an "outperform" rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, Robert W. Baird cut shares of Medpace from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $413.00 to $349.00 in a research report on Wednesday, October 23rd.

Medpace Stock Performance

MEDP traded down $4.07 during trading on Friday, reaching $337.75. 351,391 shares of the stock were exchanged, compared to its average volume of 390,956. The stock has a market cap of $10.50 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. Medpace has a twelve month low of $268.80 and a twelve month high of $459.77. The stock's 50 day moving average price is $340.14 and its two-hundred day moving average price is $373.33.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million during the quarter, compared to analysts' expectations of $540.99 million. During the same period in the previous year, the business posted $2.22 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts predict that Medpace will post 11.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MEDP. O Shaughnessy Asset Management LLC bought a new stake in Medpace in the first quarter valued at approximately $307,000. Natixis bought a new stake in Medpace in the first quarter valued at approximately $727,000. EntryPoint Capital LLC bought a new stake in Medpace in the first quarter valued at approximately $54,000. Advisors Asset Management Inc. boosted its holdings in shares of Medpace by 106.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,735 shares of the company's stock worth $1,105,000 after buying an additional 1,410 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Medpace by 15.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 67,800 shares of the company's stock worth $27,401,000 after buying an additional 9,300 shares in the last quarter. 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.