Medpace Holdings, Inc. (MEDP) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Medpace Holdings, Inc. (NASDAQ:MEDP) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “

Several other equities analysts have also recently commented on the stock. Jefferies Group LLC reissued a hold rating and issued a $31.00 price target (up previously from $30.00) on shares of Medpace Holdings in a research report on Wednesday, August 2nd. KeyCorp reissued a hold rating on shares of Medpace Holdings in a research report on Tuesday, October 17th. Robert W. Baird raised their price target on shares of Medpace Holdings from $32.00 to $35.00 and gave the company a neutral rating in a research report on Tuesday, October 31st. William Blair cut shares of Medpace Holdings from an outperform rating to a market perform rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. initiated coverage on shares of Medpace Holdings in a research report on Friday, September 29th. They issued a market perform rating for the company. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $36.60.

Medpace Holdings (NASDAQ:MEDP) opened at $35.64 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1,340.00 and a P/E ratio of 23.21. Medpace Holdings has a 1 year low of $21.76 and a 1 year high of $39.64.

Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The firm had revenue of $98.68 million during the quarter, compared to analysts’ expectations of $96.84 million. Medpace Holdings had a net margin of 6.44% and a return on equity of 10.00%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. analysts expect that Medpace Holdings will post 1.5 earnings per share for the current fiscal year.

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In other Medpace Holdings news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $30.27, for a total value of $60,540,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 25.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MEDP. Bank of New York Mellon Corp raised its holdings in shares of Medpace Holdings by 15.1% in the 1st quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock valued at $1,047,000 after purchasing an additional 4,609 shares in the last quarter. American International Group Inc. acquired a new stake in shares of Medpace Holdings in the 1st quarter valued at $145,000. Teachers Advisors LLC raised its holdings in shares of Medpace Holdings by 9.1% in the 1st quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock valued at $814,000 after purchasing an additional 2,278 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Medpace Holdings by 13.7% in the 1st quarter. TIAA CREF Investment Management LLC now owns 127,562 shares of the company’s stock valued at $3,808,000 after purchasing an additional 15,395 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Medpace Holdings by 12.4% in the 1st quarter. Vanguard Group Inc. now owns 822,842 shares of the company’s stock valued at $24,562,000 after purchasing an additional 90,742 shares in the last quarter. Institutional investors and hedge funds own 17.62% of the company’s stock.

About Medpace Holdings

Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.

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