Brokerages Set Medpace Holdings, Inc. (NASDAQ:MEDP) Target Price at $380.56

Medpace Holdings, Inc. (NASDAQ:MEDP) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $380.56.

MEDP has been the subject of a number of research analyst reports. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. TD Cowen decreased their target price on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and dropped their target price for the company from $420.00 to $350.00 in a research note on Friday, September 27th.

Medpace Trading Up 1.1 %

Shares of NASDAQ:MEDP opened at $342.69 on Wednesday. The stock has a market cap of $10.65 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37. The stock’s fifty day simple moving average is $338.85 and its two-hundred day simple moving average is $365.37. Medpace has a 1-year low of $277.72 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same period last year, the firm earned $2.22 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts forecast that Medpace will post 11.93 earnings per share for the current fiscal year.

Institutional Trading of Medpace

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in Medpace by 7.2% during the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after acquiring an additional 50,312 shares during the period. Geode Capital Management LLC grew its position in shares of Medpace by 7.6% in the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock valued at $209,885,000 after purchasing an additional 44,371 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after purchasing an additional 122,800 shares during the period. Wellington Management Group LLP lifted its holdings in Medpace by 36.0% during the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock worth $138,612,000 after purchasing an additional 109,886 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.