Truist Financial Issues Pessimistic Forecast for Medpace (NASDAQ:MEDP) Stock Price

Medpace (NASDAQ:MEDP - Get Free Report) had its target price cut by equities research analysts at Truist Financial from $347.00 to $333.00 in a report released on Thursday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's target price suggests a potential upside of 10.52% from the stock's current price.

MEDP has been the topic of several other reports. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a report on Monday, March 24th. Leerink Partners assumed coverage on shares of Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 target price on the stock. Mizuho decreased their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Robert W. Baird upped their price target on Medpace from $354.00 to $362.00 and gave the company 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 issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $357.50.

Medpace Trading Down 1.3 %

MEDP traded down $3.98 during trading hours on Thursday, hitting $301.30. The company's stock had a trading volume of 243,906 shares, compared to its average volume of 320,323. The company has a 50-day simple moving average of $322.58 and a 200 day simple moving average of $334.29. The firm has a market capitalization of $9.11 billion, a PE ratio of 23.86, a PEG ratio of 3.81 and a beta of 1.46. Medpace has a fifty-two week low of $272.00 and a fifty-two week high of $459.77.

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

Institutional Investors Weigh In On Medpace

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted 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 buying an additional 50,312 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Medpace by 75.1% in the third quarter. Orion Portfolio Solutions LLC now owns 949 shares of the company's stock worth $317,000 after purchasing an additional 407 shares during the period. MML Investors Services LLC boosted its stake in Medpace by 6.0% during the third quarter. MML Investors Services LLC now owns 3,237 shares of the company's stock worth $1,081,000 after buying an additional 184 shares in the last quarter. Barclays PLC increased its holdings in Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company's stock valued at $6,603,000 after buying an additional 8,275 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Medpace by 1.2% in the 3rd quarter. M&T Bank Corp now owns 3,199 shares of the company's stock valued at $1,068,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Company Profile

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.