Medpace (NASDAQ:MEDP) Given New $354.00 Price Target at Robert W. Baird

Medpace (NASDAQ:MEDP) had its target price upped by Robert W. Baird from $349.00 to $354.00 in a research report released on Monday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other research firms have also weighed in on MEDP. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Redburn Atlantic began coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective on the stock. Finally, Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace currently has a consensus rating of “Hold” and a consensus target price of $380.56.

Medpace Trading Up 0.0 %

Medpace stock opened at $337.82 on Monday. The firm’s fifty day moving average price is $339.76 and its two-hundred day moving average price is $372.60. Medpace has a 1-year low of $268.80 and a 1-year high of $459.77. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

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, research analysts forecast that Medpace will post 11.93 EPS for the current year.

Hedge Funds Weigh In On Medpace

Large investors have recently modified their holdings of the business. Westwind Capital grew its stake in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after acquiring an additional 338,610 shares in the last quarter. Iron Triangle Partners LP purchased a new position in Medpace during the third quarter valued at approximately $64,371,000. Clearbridge Investments LLC grew its stake in Medpace by 55.1% during the second 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. Renaissance Technologies LLC grew its stake in Medpace by 38.3% during the second 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 in the last quarter. Finally, AQR Capital Management LLC grew its stake in Medpace by 62.3% during the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after acquiring an additional 119,257 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.