William Blair Reaffirms "Market Perform" Rating for Medpace (NASDAQ:MEDP)

Medpace (NASDAQ:MEDP - Get Free Report)'s stock had its "market perform" rating reiterated by equities researchers at William Blair in a research report issued to clients and investors on Tuesday, MarketBeat reports.

Other analysts also recently issued reports about the stock. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a report on Monday, March 24th. Truist Financial cut their price objective on Medpace from $347.00 to $333.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. TD Cowen cut Medpace from a "buy" rating to a "hold" rating and decreased their target price for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Mizuho reduced their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Leerink Partners initiated coverage on Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $357.50.

Medpace Trading Down 7.5 %

MEDP traded down $21.61 during trading hours on Tuesday, hitting $267.38. The company's stock had a trading volume of 654,901 shares, compared to its average volume of 331,570. The company has a 50-day simple moving average of $317.57 and a 200 day simple moving average of $332.88. The firm has a market capitalization of $8.08 billion, a PE ratio of 21.01, a PEG ratio of 3.81 and a beta of 1.46. Medpace has a fifty-two week low of $250.84 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same period in the previous year, the business earned $3.20 earnings per share. Research analysts expect that Medpace will post 12.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently modified their holdings of MEDP. Pallas Capital Advisors LLC grew its stake in Medpace by 179.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock valued at $1,086,000 after purchasing an additional 2,101 shares in the last quarter. Barclays PLC raised its position in Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company's stock valued at $6,603,000 after acquiring an additional 8,275 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Medpace by 20.5% in the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock valued at $1,738,000 after acquiring an additional 844 shares during the last quarter. SYM FINANCIAL Corp bought a new stake in Medpace in the fourth quarter worth approximately $320,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Medpace during the 4th quarter worth $9,335,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

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.

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