Medpace (NASDAQ:MEDP) Rating Lowered to Neutral at UBS Group

UBS Group cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a neutral rating in a research note published on Friday morning, MarketBeat.com reports. They currently have $350.00 target price on the stock, down from their previous target price of $420.00.

A number of other brokerages have also commented on MEDP. Guggenheim decreased their price objective on Medpace from $464.00 to $432.00 and set a buy rating for the company in a report on Wednesday, July 24th. TD Cowen cut their target price on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group lowered Medpace from a buy rating to a hold rating and lowered their price target for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Robert W. Baird cut their price objective on shares of Medpace from $430.00 to $413.00 and set an outperform rating on the stock in a report on Friday, September 20th. Finally, StockNews.com downgraded shares of Medpace from a buy rating to a hold rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $395.00.

Medpace Stock Up 0.7 %

Shares of MEDP opened at $333.80 on Friday. The business’s fifty day moving average is $368.39 and its 200 day moving average is $389.44. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The stock has a market cap of $10.34 billion, a P/E ratio of 33.79, a P/E/G ratio of 1.88 and a beta of 1.35.

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

Institutional Investors Weigh In On Medpace

A number of hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in Medpace during the second quarter worth about $163,000. Sanctuary Advisors LLC purchased a new stake in shares of Medpace during the 2nd quarter worth approximately $1,346,000. Clearbridge Investments LLC raised its holdings in shares of Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares during the period. Cetera Investment Advisers lifted its stake in Medpace by 2.3% in the second quarter. Cetera Investment Advisers now owns 11,757 shares of the company’s stock valued at $4,842,000 after purchasing an additional 263 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Medpace by 21.2% during the second quarter. Truist Financial Corp now owns 3,700 shares of the company’s stock valued at $1,524,000 after purchasing an additional 648 shares during the period. 77.98% of the stock is currently owned by institutional investors.

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.