Medpace (NASDAQ:MEDP) Given New $397.00 Price Target at Truist Financial

Medpace (NASDAQ:MEDP) had its price target lowered by Truist Financial from $415.00 to $397.00 in a report published on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a hold rating for the company in a report on Wednesday, July 24th. TD Cowen lowered their target price on Medpace from $452.00 to $434.00 and set a buy rating for the company in a report on Wednesday, July 24th. William Blair reiterated an outperform rating on shares of Medpace in a report on Wednesday, September 11th. UBS Group cut Medpace from a buy rating to a neutral rating and lowered their target price for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Finally, 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. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $394.00.

Medpace Trading Up 1.6 %

Shares of Medpace stock opened at $353.50 on Monday. The company has a market capitalization of $10.95 billion, a PE ratio of 36.03, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77. The stock’s fifty day simple moving average is $358.79 and its 200 day simple moving average is $384.70.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million for the quarter, compared to the consensus estimate of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 EPS. Analysts predict that Medpace will post 11.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Medpace

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after purchasing an additional 142,591 shares during the period. TD Asset Management Inc grew its holdings in Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after purchasing an additional 107,108 shares during the period. Renaissance Technologies LLC grew its holdings in Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the period. Epoch Investment Partners Inc. grew its holdings in Medpace by 15.3% during the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Medpace by 55.1% during the second 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. Institutional investors own 77.98% of the company’s stock.

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.