Medpace (NASDAQ:MEDP - Get Free Report) was downgraded by research analysts at Robert W. Baird from an "outperform" rating to a "neutral" rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $349.00 target price on the stock, down from their previous target price of $413.00. Robert W. Baird's price target would indicate a potential upside of 5.74% from the company's current price.
Several other analysts have also recently commented on MEDP. StockNews.com cut Medpace from a "buy" rating to a "hold" rating in a research report on Friday, September 27th. Guggenheim dropped their price target on Medpace from $464.00 to $432.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. UBS Group cut Medpace from a "buy" rating to a "neutral" rating and dropped their target price for the company from $420.00 to $350.00 in a report on Friday, September 27th. William Blair restated an "outperform" rating on shares of Medpace in a report on Tuesday. Finally, Redburn Atlantic initiated coverage on Medpace in a report on Monday, October 14th. They issued a "buy" rating and a $404.00 target price for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $380.00.
Check Out Our Latest Stock Analysis on MEDP
Medpace Stock Up 1.1 %
Shares of MEDP stock traded up $3.53 during trading hours on Wednesday, hitting $330.07. 630,300 shares of the company's stock were exchanged, compared to its average volume of 274,050. The firm has a market cap of $10.23 billion, a P/E ratio of 33.65, a P/E/G ratio of 1.77 and a beta of 1.35. The firm has a 50 day moving average of $353.71 and a two-hundred day moving average of $382.20. Medpace has a fifty-two week low of $239.00 and a fifty-two week high of $459.77.
Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a return on equity of 55.14% and a net margin of 16.74%. 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 earned $2.22 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Medpace will post 11.64 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Medpace
A number of hedge funds have recently modified their holdings of MEDP. Mirae Asset Global Investments Co. Ltd. lifted its stake in Medpace by 17.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,243 shares of the company's stock worth $412,000 after acquiring an additional 185 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Medpace by 4.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the company's stock worth $2,337,000 after acquiring an additional 300 shares in the last quarter. Argent Capital Management LLC lifted its stake in Medpace by 431.5% during the 3rd quarter. Argent Capital Management LLC now owns 91,732 shares of the company's stock worth $30,620,000 after acquiring an additional 74,473 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Medpace by 38,432.9% during the 3rd quarter. International Assets Investment Management LLC now owns 57,414 shares of the company's stock worth $19,165,000 after acquiring an additional 57,265 shares in the last quarter. Finally, Lecap Asset Management Ltd. lifted its stake in Medpace by 107.3% during the 3rd quarter. Lecap Asset Management Ltd. now owns 10,119 shares of the company's stock worth $3,378,000 after acquiring an additional 5,238 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.
About Medpace
(
Get Free Report)
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.
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