Medpace (NASDAQ:MEDP) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “

MEDP has been the subject of a number of other research reports. Credit Suisse Group upped their price target on Medpace from $65.00 to $77.00 and gave the stock an outperform rating in a research report on Tuesday, July 30th. BidaskClub raised Medpace from a buy rating to a strong-buy rating in a research report on Saturday, August 3rd. TheStreet raised Medpace from a c rating to a b- rating in a research report on Thursday, June 6th. ValuEngine raised Medpace from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Finally, SunTrust Banks upped their price target on Medpace to $85.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $73.75.

NASDAQ:MEDP traded up $2.04 during trading hours on Wednesday, reaching $80.69. 245,700 shares of the stock were exchanged, compared to its average volume of 498,071. Medpace has a twelve month low of $45.88 and a twelve month high of $86.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a 50 day moving average of $82.07 and a 200 day moving average of $66.07. The stock has a market cap of $2.86 billion, a PE ratio of 31.15, a PEG ratio of 2.27 and a beta of 1.55.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 29th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.18. Medpace had a return on equity of 17.65% and a net margin of 11.28%. The firm had revenue of $214.10 million during the quarter, compared to the consensus estimate of $200.99 million. During the same quarter in the prior year, the firm posted $0.61 EPS. The business’s revenue was up 25.8% on a year-over-year basis. Equities research analysts anticipate that Medpace will post 2.91 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pearl River Capital LLC acquired a new stake in shares of Medpace in the 2nd quarter valued at approximately $27,000. FTB Advisors Inc. boosted its holdings in shares of Medpace by 171.8% in the 2nd quarter. FTB Advisors Inc. now owns 579 shares of the company’s stock valued at $37,000 after buying an additional 366 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Medpace by 53.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 605 shares of the company’s stock valued at $40,000 after buying an additional 212 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Medpace by 18.7% in the 2nd quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock valued at $95,000 after buying an additional 230 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Medpace in the 1st quarter valued at approximately $99,000. 85.86% of the stock is owned by institutional investors.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

Featured Article: Stock Symbols Definition, Examples, Lookup

Get a free copy of the Zacks research report on Medpace (MEDP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Medpace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace and related companies with MarketBeat.com's FREE daily email newsletter.