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

Medpace (NASDAQ:MEDP) was downgraded by stock analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

Several other brokerages also recently issued reports on MEDP. William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday. UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Truist Financial dropped their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and reduced their price target for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Finally, TD Cowen cut their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Price Performance

MEDP opened at $330.07 on Wednesday. The company has a 50 day simple moving average of $353.71 and a two-hundred day simple moving average of $382.20. The firm has a market cap of $10.23 billion, a P/E ratio of 33.65, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a 1-year low of $239.00 and a 1-year high of $459.77.

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

Institutional Investors Weigh In On Medpace

Several large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new position in shares of Medpace during the 1st quarter valued at approximately $31,000. DT Investment Partners LLC purchased a new position in shares of Medpace during the 2nd quarter worth about $41,000. J.Safra Asset Management Corp grew its holdings in Medpace by 87.0% during the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Medpace in the 2nd quarter worth about $52,000. Finally, EntryPoint Capital LLC bought a new stake in Medpace in the first quarter worth about $54,000. 77.98% of the stock is owned by institutional investors.

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.