Medpace (NASDAQ:MEDP) Rating Reiterated by William Blair

Medpace (NASDAQ:MEDP)‘s stock had its “outperform” rating reaffirmed by William Blair in a research note issued on Wednesday, Benzinga reports.

Several other research analysts have also recently issued reports on the stock. TD Cowen lowered their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. 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 report on Wednesday, July 24th. Mizuho initiated coverage on Medpace in a research note on Tuesday, May 28th. They set a “buy” rating and a $435.00 price target for the company. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Medpace has a consensus rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Stock Performance

Medpace stock traded up $3.43 during trading on Wednesday, reaching $331.23. The company had a trading volume of 198,426 shares, compared to its average volume of 247,554. The firm’s 50-day simple moving average is $387.82 and its 200 day simple moving average is $394.55. Medpace has a 1-year low of $227.21 and a 1-year high of $459.77. The firm has a market capitalization of $10.27 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the previous year, the company posted $1.93 EPS. The company’s revenue was up 14.6% compared to the same quarter last year. Analysts anticipate that Medpace will post 11.66 EPS for the current year.

Institutional Investors Weigh In On Medpace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Medpace by 5.9% in 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 in the last quarter. TD Asset Management Inc lifted its stake in shares of Medpace by 22.9% in the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after buying an additional 107,108 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after buying an additional 122,800 shares during the period. Epoch Investment Partners Inc. lifted its stake 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 lifted its stake 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.

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.