Robert W. Baird Cuts Medpace (NASDAQ:MEDP) Price Target to $413.00

Medpace (NASDAQ:MEDP) had its target price cut by Robert W. Baird from $430.00 to $413.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently commented on the stock. TD Cowen decreased their target price on shares of Medpace from $452.00 to $434.00 and set a buy rating for the company in a report on Wednesday, July 24th. StockNews.com cut Medpace from a buy rating to a hold rating in a research report on Wednesday, September 18th. Truist Financial began coverage on Medpace in a research report on Thursday, August 1st. They set a hold rating and a $415.00 price target on the stock. Mizuho started coverage on Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Medpace from $395.00 to $336.00 and set a hold rating for the company in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $420.88.

Medpace Price Performance

Shares of MEDP opened at $361.95 on Friday. The firm’s 50 day moving average is $376.50 and its 200-day moving average is $391.48. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The stock has a market capitalization of $11.21 billion, a P/E ratio of 36.90, a P/E/G ratio of 1.74 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping 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 was up 14.6% compared to the same quarter last year. During the same period last year, the company posted $1.93 EPS. As a group, equities research analysts forecast that Medpace will post 11.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

A number of large investors have recently added to or reduced their stakes in the stock. Westwind Capital lifted its holdings in shares of Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after buying an additional 338,610 shares during the last quarter. TD Asset Management Inc grew its position in Medpace by 195.2% in the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after purchasing an additional 308,816 shares during the last quarter. Findlay Park Partners LLP bought a new position in shares of Medpace during the 1st quarter worth about $90,247,000. Clearbridge Investments LLC lifted its stake in shares of Medpace by 302.4% in the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after buying an additional 195,698 shares during the period. Finally, Norges Bank bought a new position in Medpace during the fourth quarter valued at about $59,163,000. Institutional investors own 77.98% of the company’s stock.

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.