Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $380.00 Consensus PT from Analysts

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $380.00.

A number of equities analysts recently commented on the company. Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $413.00 to $349.00 in a report on Wednesday, October 23rd. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Truist Financial reduced their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. TD Cowen lowered their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Redburn Atlantic initiated coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company.

Institutional Trading of Medpace

Large investors have recently added to or reduced their stakes in the company. FORA Capital LLC purchased a new position in shares of Medpace in the 1st quarter worth approximately $2,222,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Medpace during the 1st quarter valued at $5,179,000. Norden Group LLC grew its stake in Medpace by 488.0% in the first quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after purchasing an additional 24,466 shares during the last quarter. QRG Capital Management Inc. lifted its position in Medpace by 322.5% during the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock valued at $4,265,000 after acquiring an additional 8,055 shares during the last quarter. Finally, M&G Plc purchased a new position in Medpace during the 1st quarter worth $9,885,000. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Medpace stock opened at $317.96 on Tuesday. The stock has a market cap of $9.88 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.77 and a beta of 1.37. The stock has a fifty day moving average of $343.24 and a 200 day moving average of $378.21. Medpace has a one year low of $268.16 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. During the same quarter in the prior year, the business earned $2.22 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Medpace will post 11.93 EPS for the current fiscal year.

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.