Medpace (NASDAQ:MEDP) Price Target Cut to $397.00

Medpace (NASDAQ:MEDP - Free Report) had its target price trimmed by Truist Financial from $415.00 to $397.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Medpace from $395.00 to $336.00 and set a hold rating for the company in a research report on Wednesday, July 24th. Robert W. Baird dropped their target price on shares of Medpace from $430.00 to $413.00 and set an outperform rating for the company in a research report on Friday, September 20th. TD Cowen decreased their price objective on shares of Medpace from $452.00 to $434.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group downgraded shares of Medpace from a buy rating to a hold rating and cut their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Finally, Redburn Atlantic began coverage on shares of Medpace in a research report on Monday. They set a buy rating and a $404.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Medpace has an average rating of Moderate Buy and a consensus price target of $394.00.

Medpace Trading Up 1.6 %

MEDP traded up $5.59 during midday trading on Monday, hitting $353.50. The company's stock had a trading volume of 227,628 shares, compared to its average volume of 263,822. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The firm has a 50-day moving average price of $359.26 and a two-hundred day moving average price of $385.06. The firm has a market cap of $10.95 billion, a P/E ratio of 35.82, a PEG ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.21. The company had revenue of $528.10 million for the quarter, compared to the consensus estimate of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. Medpace's revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 earnings per share. On average, equities analysts expect that Medpace will post 11.64 EPS for the current year.

Institutional Trading of Medpace

Institutional investors have recently added to or reduced their stakes in the stock. Willis Investment Counsel raised its stake in shares of Medpace by 3.9% in the 3rd quarter. Willis Investment Counsel now owns 8,002 shares of the company's stock valued at $2,671,000 after purchasing an additional 300 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in Medpace by 4.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 4,619 shares of the company's stock valued at $1,542,000 after buying an additional 207 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Medpace by 47.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,981 shares of the company's stock worth $995,000 after buying an additional 963 shares during the last quarter. Annex Advisory Services LLC grew its position in shares of Medpace by 17.3% in the 3rd quarter. Annex Advisory Services LLC now owns 73,435 shares of the company's stock worth $24,513,000 after acquiring an additional 10,813 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Medpace by 191.4% in the 3rd quarter. UMB Bank n.a. now owns 271 shares of the company's stock valued at $90,000 after acquiring an additional 178 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

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.