Medpace (NASDAQ:MEDP) Downgraded by StockNews.com

StockNews.com downgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research report sent to investors on Friday.

A number of other research firms have also weighed in on MEDP. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group lowered Medpace from a buy rating to a hold rating and dropped their price target for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Robert W. Baird reduced their price objective on Medpace from $430.00 to $413.00 and set an outperform rating on the stock in a research report on Friday, September 20th. William Blair restated an outperform rating on shares of Medpace in a report on Wednesday, September 11th. Finally, Guggenheim lowered their price target on shares of Medpace from $464.00 to $432.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Medpace currently has an average rating of Moderate Buy and a consensus price target of $395.00.

Medpace Stock Up 1.6 %

Shares of MEDP stock opened at $331.44 on Friday. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77. The stock has a market cap of $10.27 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The business has a 50-day simple moving average of $368.39 and a 200-day simple moving average of $389.57.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. The firm 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%. Medpace’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. Sell-side analysts anticipate that Medpace will post 11.66 earnings per share for the current fiscal year.

Institutional Trading of Medpace

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Medpace by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after acquiring an additional 142,591 shares during the period. TD Asset Management Inc boosted its position in shares of Medpace by 22.9% in the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after buying an additional 107,108 shares in the last quarter. Renaissance Technologies LLC grew its stake in Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after acquiring an additional 122,800 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in Medpace by 15.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after acquiring an additional 53,983 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after acquiring an additional 143,481 shares in the last quarter. Hedge funds and other 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.