Medpace (NASDAQ:MEDP) Cut to “Neutral” at Robert W. Baird

Medpace (NASDAQ:MEDP) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, FinViz reports. They currently have a $349.00 price objective on the stock, down from their previous price objective of $413.00. Robert W. Baird’s target price would suggest a potential upside of 6.88% from the company’s current price.

MEDP has been the subject of several other reports. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and decreased their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday. Truist Financial decreased their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. 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 research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $386.89.

Medpace Stock Down 7.5 %

Shares of MEDP opened at $326.54 on Wednesday. The stock has a market capitalization of $10.12 billion, a P/E ratio of 33.29, a P/E/G ratio of 1.77 and a beta of 1.35. Medpace has a twelve month low of $227.21 and a twelve month high of $459.77. The company has a 50 day moving average of $354.82 and a 200-day moving average of $382.57.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $2.22 EPS. On average, sell-side analysts anticipate that Medpace will post 11.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medpace

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. acquired a new stake in shares of Medpace in the 1st quarter valued at approximately $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Medpace in the 1st quarter valued at approximately $31,000. DT Investment Partners LLC acquired a new stake in shares of Medpace in the 2nd quarter valued at approximately $41,000. J.Safra Asset Management Corp boosted its stake in shares of Medpace by 87.0% in the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Medpace in the 2nd quarter valued at approximately $52,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

About Medpace

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.