Analysts Set Medpace Holdings, Inc. (NASDAQ:MEDP) Target Price at $380.00

Medpace Holdings, Inc. (NASDAQ:MEDP) has received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $380.56.

Several equities analysts have recently commented on MEDP shares. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. TD Cowen lowered their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Truist Financial reduced their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Finally, StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th.

Institutional Investors Weigh In On Medpace

Institutional investors and hedge funds have recently bought and sold shares of the business. DT Investment Partners LLC acquired a new stake in Medpace in the 2nd quarter valued at about $41,000. Stone House Investment Management LLC acquired a new stake in Medpace in the 3rd quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in Medpace in the 3rd quarter valued at about $37,000. Ashton Thomas Private Wealth LLC acquired a new stake in Medpace in the 2nd quarter valued at about $52,000. Finally, EntryPoint Capital LLC acquired a new stake in Medpace in the 1st quarter valued at about $54,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Performance

MEDP stock opened at $340.63 on Friday. The stock’s fifty day moving average is $337.82 and its two-hundred day moving average is $371.41. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.88 and a beta of 1.37. Medpace has a 1 year low of $268.80 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 earnings per share. As a group, analysts predict that Medpace will post 11.93 EPS for the current fiscal year.

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.