Medpace (NASDAQ:MEDP) Given New $355.00 Price Target at Mizuho

Medpace (NASDAQ:MEDP - Get Free Report) had its price target dropped by stock analysts at Mizuho from $400.00 to $355.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price objective would suggest a potential upside of 17.55% from the company's previous close.

Other equities analysts have also issued reports about the stock. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a research report on Monday, March 24th. Leerink Partners started coverage on shares of Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price target on the stock. Finally, Robert W. Baird upped their target price on shares of Medpace from $354.00 to $362.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $357.50.

Medpace Stock Performance

MEDP traded up $4.28 during midday trading on Wednesday, reaching $302.00. The company had a trading volume of 257,246 shares, compared to its average volume of 319,338. The business has a 50-day moving average price of $323.58 and a two-hundred day moving average price of $334.47. Medpace has a 12-month low of $272.00 and a 12-month high of $459.77. The stock has a market cap of $9.13 billion, a PE ratio of 23.91, a P/E/G ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. On average, research analysts anticipate that Medpace will post 12.29 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Medpace by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock valued at $854,087,000 after purchasing an additional 25,704 shares in the last quarter. Invesco Ltd. boosted its stake in Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after purchasing an additional 519,186 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Medpace by 3.1% in the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after purchasing an additional 28,161 shares in the last quarter. State Street Corp increased its holdings in 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 buying an additional 50,312 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Medpace by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after buying an additional 28,076 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.