Medpace Holdings, Inc. (NASDAQ:MEDP) Given Average Recommendation of “Hold” by Analysts

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $380.56.

Several research firms have recently commented on MEDP. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $420.00 to $350.00 in a report on Friday, September 27th. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Redburn Atlantic began coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective for the company. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Finally, TD Cowen decreased their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MEDP. Stone House Investment Management LLC purchased a new position in Medpace in the third quarter worth $33,000. Ashton Thomas Securities LLC purchased a new position in Medpace in the third quarter worth $37,000. DT Investment Partners LLC purchased a new position in Medpace in the second quarter worth $41,000. Capital Performance Advisors LLP purchased a new position in Medpace in the third quarter worth $46,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Medpace in the second quarter worth $52,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of MEDP stock opened at $348.48 on Wednesday. The company has a market cap of $10.83 billion, a P/E ratio of 30.51, a PEG ratio of 1.89 and a beta of 1.37. The stock has a 50 day simple moving average of $339.75 and a two-hundred day simple moving average of $367.14. Medpace has a fifty-two week low of $277.72 and a fifty-two week high of $459.77.

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

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.