Robert W. Baird Issues Positive Forecast for Medpace (NASDAQ:MEDP) Stock Price

Medpace (NASDAQ:MEDP) had its price target lifted by equities researchers at Robert W. Baird from $349.00 to $354.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 4.81% from the stock’s previous close.

Other analysts also recently issued research reports about the company. TD Cowen reduced 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, October 23rd. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Truist Financial cut their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Finally, Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and cut their target price for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Down 1.2 %

MEDP opened at $337.75 on Monday. The firm has a market capitalization of $10.50 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The stock’s 50 day moving average price is $340.14 and its two-hundred day moving average price is $373.03. Medpace has a 12-month low of $268.80 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. The firm had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 EPS. As a group, analysts anticipate that Medpace will post 11.93 earnings per share for the current year.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Medpace by 7.2% in the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after buying an additional 50,312 shares during the period. Geode Capital Management LLC grew its stake in shares of Medpace by 7.6% during the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock worth $209,885,000 after purchasing an additional 44,371 shares during the period. Renaissance Technologies LLC grew its stake in shares of 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. Wellington Management Group LLP grew its stake in shares of Medpace by 36.0% during the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock worth $138,612,000 after purchasing an additional 109,886 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after acquiring an additional 143,481 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

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.