Medpace (NASDAQ:MEDP) Downgraded to “Hold” at StockNews.com

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

A number of other equities analysts have also recently issued reports on the company. William Blair reiterated an outperform rating on shares of Medpace in a report on Wednesday, September 11th. Robert W. Baird reduced their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Medpace from $395.00 to $336.00 and set a hold rating for the company in a research note on Wednesday, July 24th. TD Cowen reduced their price objective on shares of Medpace from $452.00 to $434.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Finally, Guggenheim reduced their price objective on shares of Medpace from $464.00 to $432.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $420.88.

Medpace Trading Down 0.9 %

MEDP stock opened at $365.70 on Wednesday. The stock has a 50-day moving average price of $378.15 and a two-hundred day moving average price of $391.95. The stock has a market cap of $11.33 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. On average, analysts forecast that Medpace will post 11.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medpace

Several hedge funds have recently bought and sold shares of MEDP. Westwind Capital lifted its stake in Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares during the last quarter. TD Asset Management Inc lifted its stake in Medpace by 195.2% in the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in Medpace in the 1st quarter valued at about $90,247,000. Clearbridge Investments LLC lifted its stake in Medpace by 302.4% in the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after purchasing an additional 195,698 shares during the last quarter. Finally, Norges Bank acquired a new stake in Medpace in the 4th quarter valued at about $59,163,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Company Profile

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.