Medpace (NASDAQ:MEDP) Downgraded by Jefferies Financial Group

Jefferies Financial Group lowered shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report issued on Wednesday morning, MarketBeat Ratings reports. They currently have $345.00 target price on the stock, down from their prior target price of $415.00.

A number of other brokerages have also recently commented on MEDP. Truist Financial assumed coverage on shares of Medpace in a research note on Thursday, August 1st. They issued a hold rating and a $415.00 price target for the company. William Blair reiterated an outperform rating on shares of Medpace in a report on Wednesday, September 11th. Guggenheim lowered their price target on Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Medpace from $395.00 to $336.00 and set a hold rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com lowered Medpace from a buy rating to a hold rating in a report on Wednesday, September 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $395.00.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $331.44 on Wednesday. The business has a 50-day moving average of $370.19 and a 200-day moving average of $390.19. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.88 and a beta of 1.35. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results 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 firm had revenue of $528.10 million for 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 business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.93 EPS. On average, sell-side analysts expect that Medpace will post 11.66 EPS for the current year.

Institutional Trading of Medpace

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Medpace by 4.9% in the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after buying an additional 26 shares in the last quarter. Wealth Alliance grew its stake in shares of Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after acquiring an additional 27 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Medpace by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after acquiring an additional 32 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Medpace by 5.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after purchasing an additional 39 shares in the last quarter. Finally, Journey Advisory Group LLC boosted its holdings in Medpace by 1.9% in the 2nd quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after purchasing an additional 44 shares during the period. 77.98% of the stock is 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.