Medpace (NASDAQ:MEDP) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $345.00 price objective on the stock, down from their prior price objective of $415.00.

A number of other research firms have also weighed in on MEDP. Truist Financial started coverage on shares of Medpace in a research note on Thursday, August 1st. They issued a hold rating and a $415.00 price objective on the stock. Guggenheim lowered their target price 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. StockNews.com cut shares of Medpace from a buy rating to a hold rating in a report on Wednesday, September 18th. TD Cowen reduced their price objective on shares of Medpace from $452.00 to $434.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Finally, Mizuho assumed coverage on Medpace in a research report on Tuesday, May 28th. They set a buy rating and a $435.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $395.00.

Medpace Stock Performance

Shares of Medpace stock opened at $331.44 on Wednesday. The company has a market capitalization of $10.27 billion, a P/E ratio of 33.79, a PEG ratio of 1.88 and a beta of 1.35. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The company’s fifty day moving average is $368.39 and its two-hundred day moving average is $389.69.

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

Institutional Investors Weigh In On Medpace

A number of hedge funds and other institutional investors have recently modified their holdings of MEDP. FORA Capital LLC acquired a new stake in Medpace in the 1st quarter valued at about $2,222,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Medpace in the first quarter valued at approximately $5,179,000. Eagle Asset Management Inc. increased its stake in shares of Medpace by 155.0% during the 4th quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock worth $69,409,000 after purchasing an additional 137,632 shares in the last quarter. Evoke Wealth LLC acquired a new position in shares of Medpace during the 4th quarter worth approximately $3,149,000. Finally, Norden Group LLC lifted its stake in Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after buying an additional 24,466 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.