Analysts Set Medpace Holdings, Inc. (NASDAQ:MEDP) PT at $380.56

Medpace Holdings, Inc. (NASDAQ:MEDP) has earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat.com 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $380.56.

MEDP has been the subject of a number of research reports. Truist Financial cut their price target 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. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and dropped their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Finally, UBS Group cut 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Iron Triangle Partners LP bought a new stake in Medpace during the 3rd quarter valued at $64,371,000. Clearbridge Investments LLC increased its position in shares of Medpace by 55.1% in 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 during the period. Renaissance Technologies LLC raised its stake in shares of 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 during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Medpace by 62.3% during the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after purchasing an additional 119,257 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Medpace by 36.0% in the third 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 during the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

MEDP opened at $342.69 on Wednesday. Medpace has a one year low of $277.72 and a one year high of $459.77. The firm has a market capitalization of $10.65 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37. The company has a fifty day moving average price of $338.85 and a 200-day moving average price of $365.37.

Medpace (NASDAQ:MEDP) last announced 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 for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 EPS. On average, analysts expect that Medpace will post 11.93 earnings per share for the current year.

About Medpace

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.