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

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

MEDP has been the topic of a number of other research reports. William Blair reaffirmed an outperform rating on shares of Medpace in a research note on Tuesday, July 23rd. Guggenheim decreased their target price on Medpace from $464.00 to $432.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Robert W. Baird lowered their target price on shares of Medpace from $469.00 to $430.00 and set an outperform rating for the company in a research note on Wednesday, July 24th. Mizuho initiated coverage on shares of Medpace in a research note on Tuesday, May 28th. They issued a buy rating and a $435.00 price target on the stock. Finally, Truist Financial assumed coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a hold rating and a $415.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $423.00.

Medpace Stock Performance

Shares of Medpace stock opened at $335.74 on Thursday. The stock has a 50 day moving average price of $390.71 and a 200-day moving average price of $395.46. Medpace has a one year low of $227.21 and a one year high of $459.77. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.35.

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

Institutional Trading of Medpace

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in Medpace during the first quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in shares of Medpace during the 1st quarter valued at $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Medpace in the 1st quarter worth $31,000. J.Safra Asset Management Corp grew its stake in Medpace by 87.0% during the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in Medpace during the 2nd quarter valued at about $41,000. 77.98% of the stock is 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.