Medpace (NASDAQ:MEDP) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a report issued on Thursday.

Other equities research analysts have also issued reports about the company. Guggenheim lowered their price objective on Medpace from $464.00 to $432.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Truist Financial assumed coverage on Medpace in a research note on Thursday, August 1st. They issued a hold rating and a $415.00 price objective for the company. TD Cowen reduced their price target on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price target on Medpace from $395.00 to $336.00 and set a hold rating on the stock in a report on Wednesday, July 24th. Finally, William Blair reiterated an outperform rating on shares of Medpace in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has an average rating of Moderate Buy and a consensus target price of $423.00.

Medpace Price Performance

NASDAQ:MEDP opened at $335.74 on Thursday. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 1.85 and a beta of 1.36. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The business has a 50 day simple moving average of $390.71 and a 200-day simple moving average of $395.39.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company earned $1.93 EPS. As a group, analysts expect that Medpace will post 11.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FORA Capital LLC purchased a new position in Medpace during the 1st quarter worth $2,222,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Medpace during the 1st quarter worth $5,179,000. Eagle Asset Management Inc. increased its holdings in Medpace by 155.0% during the 4th quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock worth $69,409,000 after purchasing an additional 137,632 shares during the period. Evoke Wealth LLC purchased a new position in Medpace during the 4th quarter worth $3,149,000. Finally, Norden Group LLC increased its holdings in Medpace by 488.0% during the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock worth $11,914,000 after purchasing an additional 24,466 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

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.