Medpace (NASDAQ:MEDP) Now Covered by Analysts at Redburn Atlantic

Stock analysts at Redburn Atlantic started coverage on shares of Medpace (NASDAQ:MEDP) in a report released on Monday, Briefing.com reports. The firm set a “buy” rating on the stock.

Several other equities research analysts have also issued reports on MEDP. 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 research note on Wednesday, July 24th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Robert W. Baird reduced their price target on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and lowered their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $395.00.

Medpace Stock Performance

MEDP stock traded up $0.38 during trading on Monday, reaching $348.29. The company had a trading volume of 4,820 shares, compared to its average volume of 262,697. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. Medpace has a twelve month low of $227.21 and a twelve month high of $459.77. The firm has a 50-day simple moving average of $359.26 and a 200-day simple moving average of $385.06.

Medpace (NASDAQ:MEDP) last announced 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 in the previous year, the company earned $1.93 earnings per share. Sell-side analysts expect that Medpace will post 11.64 earnings per share for the current year.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently bought and sold shares of MEDP. Willis Investment Counsel grew its holdings in shares of Medpace by 3.9% during the third quarter. Willis Investment Counsel now owns 8,002 shares of the company’s stock worth $2,671,000 after buying an additional 300 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Medpace by 4.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 4,619 shares of the company’s stock valued at $1,542,000 after acquiring an additional 207 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Medpace by 47.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,981 shares of the company’s stock valued at $995,000 after purchasing an additional 963 shares in the last quarter. Annex Advisory Services LLC lifted its holdings in shares of Medpace by 17.3% in the 3rd quarter. Annex Advisory Services LLC now owns 73,435 shares of the company’s stock valued at $24,513,000 after buying an additional 10,813 shares during the period. Finally, UMB Bank n.a. grew its holdings in Medpace by 191.4% during the third quarter. UMB Bank n.a. now owns 271 shares of the company’s stock worth $90,000 after acquiring an additional 178 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Company Profile

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.