Medpace (NASDAQ:MEDP) Trading Down 2.8%

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) dropped 2.8% during trading on Friday . The stock traded as low as $352.92 and last traded at $355.66. Approximately 114,552 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 242,801 shares. The stock had previously closed at $365.94.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday, July 23rd. Guggenheim decreased their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird lowered their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, Mizuho assumed coverage on shares of Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $423.00.

Medpace Stock Performance

The stock has a fifty day moving average price of $398.12 and a 200-day moving average price of $396.46. The firm has a market cap of $10.89 billion, a PE ratio of 35.43, a PEG ratio of 2.00 and a beta of 1.36.

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

Institutional Investors Weigh In On Medpace

Large investors have recently modified their holdings of the stock. Clearbridge Investments LLC grew its stake in Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after purchasing an additional 143,481 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Medpace by 2.3% in the second quarter. Cetera Investment Advisers now owns 11,757 shares of the company’s stock worth $4,842,000 after buying an additional 263 shares during the last quarter. Truist Financial Corp raised its holdings in Medpace by 21.2% in the second quarter. Truist Financial Corp now owns 3,700 shares of the company’s stock valued at $1,524,000 after acquiring an additional 648 shares in the last quarter. Chase Investment Counsel Corp boosted its stake in Medpace by 2.6% during the 2nd quarter. Chase Investment Counsel Corp now owns 9,012 shares of the company’s stock valued at $3,711,000 after acquiring an additional 231 shares during the last quarter. Finally, Seaport Global Advisors LLC bought a new stake in shares of Medpace in the 2nd quarter worth about $585,000. Institutional investors and hedge funds 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.