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

Baird R W cut shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

Other analysts have also recently issued reports about the company. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Redburn Atlantic began coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective on the stock. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and lowered their target price for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $380.00.

Medpace Trading Up 0.7 %

MEDP stock opened at $330.22 on Wednesday. The company has a market capitalization of $10.24 billion, a P/E ratio of 28.92, a PEG ratio of 1.74 and a beta of 1.35. The business has a 50 day simple moving average of $351.45 and a 200-day simple moving average of $381.28. Medpace has a twelve month low of $239.00 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same quarter in the prior year, the business earned $2.22 EPS. Medpace’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Medpace will post 11.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MEDP. Sunbelt Securities Inc. grew its holdings in shares of Medpace by 24.5% in the 1st quarter. Sunbelt Securities Inc. now owns 514 shares of the company’s stock worth $208,000 after acquiring an additional 101 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Medpace by 16.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,340 shares of the company’s stock valued at $4,179,000 after purchasing an additional 1,446 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Medpace by 1.8% in the first quarter. State of Michigan Retirement System now owns 5,699 shares of the company’s stock valued at $2,303,000 after buying an additional 100 shares in the last quarter. Norden Group LLC increased its position in shares of Medpace by 488.0% in the first quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after buying an additional 24,466 shares in the last quarter. Finally, Arcus Capital Partners LLC raised its position in Medpace by 15.7% during the first quarter. Arcus Capital Partners LLC now owns 965 shares of the company’s stock worth $390,000 after acquiring an additional 131 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other 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.