Medpace Holdings, Inc. (NASDAQ:MEDP) Given Average Recommendation of “Hold” by Brokerages

Medpace Holdings, Inc. (NASDAQ:MEDP) has been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $380.56.

Several analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research report on Monday. Truist Financial lowered their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and reduced their target price for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Redburn Atlantic started coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. Finally, Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd.

Institutional Trading of Medpace

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in shares of Medpace by 4.9% during the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after acquiring an additional 26 shares during the last quarter. Wealth Alliance boosted its holdings in Medpace by 2.9% in the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after purchasing an additional 27 shares during the last quarter. Centaurus Financial Inc. grew its stake in shares of Medpace by 2.0% in the 3rd quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock valued at $505,000 after buying an additional 29 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after buying an additional 32 shares during the last quarter. Finally, Lindenwold Advisors INC raised its position in shares of Medpace by 1.6% during the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock valued at $676,000 after buying an additional 32 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Up 1.1 %

Shares of Medpace stock opened at $338.96 on Friday. The firm has a market cap of $10.53 billion, a PE ratio of 29.68, a P/E/G ratio of 1.87 and a beta of 1.37. The business has a 50-day moving average price of $338.93 and a 200 day moving average price of $371.98. Medpace has a twelve month low of $268.80 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last announced 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. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same period in the prior year, the company posted $2.22 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Medpace will post 11.93 EPS for the current year.

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.