Shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) 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.
Get Our Latest Stock Analysis on MEDP
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.
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 - Get Free Report) 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.
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.
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