Medpace Holdings Inc (MEDP) Receives Average Rating of “Hold” from Brokerages

Medpace Holdings Inc (NASDAQ:MEDP) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.25.

Several equities research analysts recently issued reports on MEDP shares. Zacks Investment Research raised shares of Medpace from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, December 13th. Jefferies Group lifted their price target on shares of Medpace from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird boosted their target price on shares of Medpace from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. William Blair lowered shares of 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. Finally, BidaskClub lowered shares of Medpace from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th.

Shares of Medpace (MEDP) opened at $38.40 on Friday. The stock has a market cap of $1,440.00 and a P/E ratio of 55.65. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. Medpace has a 1-year low of $21.76 and a 1-year high of $39.64.

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

In other Medpace news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total transaction of $138,736,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 25.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Medpace by 23.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after purchasing an additional 191,597 shares during the period. Acadian Asset Management LLC lifted its position in shares of Medpace by 6.9% in the 4th quarter. Acadian Asset Management LLC now owns 633,743 shares of the company’s stock worth $22,979,000 after purchasing an additional 40,944 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Medpace by 88.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 416,101 shares of the company’s stock worth $13,266,000 after purchasing an additional 195,284 shares during the period. Granite Investment Partners LLC lifted its position in shares of Medpace by 5.5% in the 3rd quarter. Granite Investment Partners LLC now owns 295,415 shares of the company’s stock worth $9,424,000 after purchasing an additional 15,486 shares during the period. Finally, Redmile Group LLC acquired a new position in shares of Medpace in the 2nd quarter worth approximately $6,526,000. Hedge funds and other institutional investors own 16.80% of the company’s stock.

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Medpace 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.

Analyst Recommendations for Medpace (NASDAQ:MEDP)

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