Medpace (NASDAQ:MEDP) Cut to Hold at Baird R W

Baird R W lowered shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird cut shares of Medpace from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $413.00 to $349.00 in a report on Wednesday. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. TD Cowen decreased their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Trading Up 1.1 %

MEDP opened at $330.07 on Wednesday. Medpace has a twelve month low of $239.00 and a twelve month high of $459.77. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 1.77 and a beta of 1.35. The company has a fifty day simple moving average of $353.71 and a 200 day simple moving average of $382.20.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.22 EPS. On average, analysts forecast that Medpace will post 11.64 earnings per share for the current fiscal year.

Institutional Trading of Medpace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in shares of Medpace in the 1st quarter valued at approximately $31,000. DT Investment Partners LLC acquired a new position in shares of Medpace during the 2nd quarter valued at $41,000. J.Safra Asset Management Corp raised its holdings in 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 last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Medpace during the second quarter worth $52,000. Finally, EntryPoint Capital LLC acquired a new position in Medpace during the first quarter worth $54,000. 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.