Medpace (NASDAQ:MEDP) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report released on Wednesday morning.

Other equities analysts also recently issued research reports about the stock. Mizuho began coverage on shares of Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 target price for the company. William Blair reiterated an outperform rating on shares of Medpace in a report on Wednesday, September 11th. Guggenheim decreased their target price on Medpace from $464.00 to $432.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Robert W. Baird dropped their price target on shares of Medpace from $469.00 to $430.00 and set an outperform rating on the stock in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medpace from $395.00 to $336.00 and set a hold rating on the stock in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Medpace has an average rating of Moderate Buy and an average price target of $420.88.

Medpace Stock Performance

Shares of MEDP opened at $365.70 on Wednesday. The stock has a 50-day simple moving average of $378.15 and a 200-day simple moving average of $392.02. The stock has a market capitalization of $11.33 billion, a PE ratio of 37.28, a PEG ratio of 1.74 and a beta of 1.36. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter last year, the company earned $1.93 earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. Analysts predict that Medpace will post 11.66 EPS for the current year.

Institutional Investors Weigh In On Medpace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Medpace in the 1st quarter valued at $27,000. Mather Group LLC. purchased a new position in Medpace during the 1st quarter worth $28,000. Fidelis Capital Partners LLC acquired a new position in Medpace in the first quarter valued at $31,000. J.Safra Asset Management Corp boosted its stake in shares of Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares during the period. Finally, DT Investment Partners LLC purchased a new position in shares of Medpace during the second quarter worth about $41,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

About Medpace

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.