Zacks Investment Research Lowers Medpace (NASDAQ:MEDP) to Hold

Zacks Investment Research downgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report issued on Tuesday, November 14th.

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. “

A number of other brokerages have also recently issued reports on MEDP. Jefferies Group reiterated a hold rating and set a $31.00 target price (up previously from $30.00) on shares of Medpace in a report on Wednesday, August 2nd. Robert W. Baird upped their price target on Medpace from $32.00 to $35.00 and gave the stock a neutral rating in a report on Tuesday, October 31st. William Blair cut Medpace from an outperform rating to a market perform rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. KeyCorp reaffirmed a hold rating on shares of Medpace in a research report on Tuesday, October 17th. Finally, Raymond James Financial started coverage on Medpace in a research report on Friday, September 29th. They issued a market perform rating on the stock. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Medpace presently has a consensus rating of Hold and an average price target of $36.60.

Medpace (NASDAQ:MEDP) traded down $0.85 during trading hours on Tuesday, hitting $32.46. The stock had a trading volume of 2,300,000 shares, compared to its average volume of 173,579. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1,219.88, a P/E ratio of 22.08, a PEG ratio of 1.66 and a beta of -0.88. Medpace has a fifty-two week low of $21.76 and a fifty-two week high of $39.64.

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

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP boosted its stake in Medpace by 30.9% during the third quarter. Susquehanna International Group LLP now owns 9,947 shares of the company’s stock valued at $317,000 after buying an additional 2,347 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Medpace by 173.8% during the third quarter. GSA Capital Partners LLP now owns 28,200 shares of the company’s stock valued at $900,000 after purchasing an additional 17,900 shares during the last quarter. Convergence Investment Partners LLC lifted its stake in Medpace by 13.4% in the 3rd quarter. Convergence Investment Partners LLC now owns 24,819 shares of the company’s stock worth $792,000 after acquiring an additional 2,940 shares in the last quarter. OxFORD Asset Management LLP lifted its stake in Medpace by 21.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 98,605 shares of the company’s stock worth $3,135,000 after acquiring an additional 17,161 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Medpace by 42.8% in the 3rd quarter. Wells Fargo & Company MN now owns 10,354 shares of the company’s stock worth $330,000 after acquiring an additional 3,104 shares in the last quarter. 16.74% of the stock is owned by institutional investors and hedge funds.

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About Medpace

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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