Medpace Holdings, Inc. (NASDAQ:MEDP)‘s stock had its “hold” rating reaffirmed by analysts at Robert W. Baird in a report issued on Monday, October 9th. They currently have a $32.00 price target on the stock. Robert W. Baird’s price objective would indicate a potential downside of 4.76% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Medpace Holdings from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a “hold” rating and set a $31.00 price objective (up previously from $30.00) on shares of Medpace Holdings in a research note on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. started coverage on shares of Medpace Holdings in a research note on Friday, September 29th. They set a “market perform” rating on the stock. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $34.20.
Shares of Medpace Holdings (NASDAQ:MEDP) traded down 0.03% on Monday, hitting $33.59. 24,102 shares of the stock were exchanged. Medpace Holdings has a one year low of $21.76 and a one year high of $38.94. The company has a market cap of $1.33 billion, a P/E ratio of 59.14 and a beta of -0.86. The firm’s 50-day moving average is $32.30 and its 200-day moving average is $29.60.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.08. Medpace Holdings had a net margin of 5.37% and a return on equity of 9.32%. The firm had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $92.71 million. During the same quarter last year, the company posted $0.45 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Medpace Holdings will post $1.43 EPS 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 Medpace Holdings 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 document filed with the SEC, which is available at this hyperlink. Insiders own 25.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. bought a new position in Medpace Holdings in the first quarter valued at approximately $145,000. Tudor Investment Corp ET AL lifted its stake in Medpace Holdings by 16.4% in the first quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock valued at $205,000 after buying an additional 967 shares in the last quarter. Susquehanna International Group LLP bought a new position in Medpace Holdings in the second quarter valued at approximately $220,000. Credit Suisse AG bought a new position in Medpace Holdings in the first quarter valued at approximately $231,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Medpace Holdings in the first quarter valued at approximately $246,000. 15.97% of the stock is currently owned by hedge funds and other institutional investors.
Medpace Holdings Company Profile
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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