Medpace (NASDAQ:MEDP - Get Free Report) had its price objective hoisted by equities research analysts at Robert W. Baird from $349.00 to $354.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 3.98% from the company's previous close.
A number of other analysts also recently weighed in on the stock. Baird R W downgraded shares of Medpace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. UBS Group downgraded 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. StockNews.com downgraded shares of Medpace from a "buy" rating to a "hold" rating in a research report on Friday, September 27th. Truist Financial reduced their price objective on shares of Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a research report on Monday, October 14th. Finally, TD Cowen reduced their price target 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $380.56.
View Our Latest Research Report on Medpace
Medpace Price Performance
MEDP traded up $2.69 during trading on Monday, reaching $340.44. The company had a trading volume of 164,843 shares, compared to its average volume of 284,722. The business's fifty day moving average price is $340.14 and its 200 day moving average price is $373.03. The company has a market cap of $10.58 billion, a P/E ratio of 29.96, a PEG ratio of 1.87 and a beta of 1.37. Medpace has a 12 month low of $268.80 and a 12 month high of $459.77.
Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS 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 the consensus estimate of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. Medpace's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.22 earnings per share. As a group, sell-side analysts predict that Medpace will post 11.93 EPS for the current fiscal year.
Institutional Investors Weigh In On Medpace
A number of institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in shares of Medpace by 7.2% in the third quarter. State Street Corp now owns 752,957 shares of the company's stock worth $251,337,000 after acquiring an additional 50,312 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Medpace by 7.6% during the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company's stock valued at $209,885,000 after purchasing an additional 44,371 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company's stock valued at $182,692,000 after purchasing an additional 122,800 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Medpace by 36.0% during the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company's stock valued at $138,612,000 after purchasing an additional 109,886 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Medpace by 55.1% during the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company's stock valued at $166,343,000 after purchasing an additional 143,481 shares in the last quarter. 77.98% of the stock is 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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