Medpace Holdings, Inc. (NASDAQ:MEDP) Receives Consensus Rating of “Hold” from Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $349.30.

Several brokerages have weighed in on MEDP. Leerink Partnrs raised Medpace to a “hold” rating in a research note on Monday, March 24th. William Blair reaffirmed a “market perform” rating on shares of Medpace in a research note on Tuesday, April 22nd. Robert W. Baird cut their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Mizuho cut their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, Leerink Partners began coverage on Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 target price on the stock.

Insider Buying and Selling

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the transaction, the director now directly owns 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Medpace by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock valued at $854,087,000 after purchasing an additional 25,704 shares in the last quarter. Invesco Ltd. grew its stake in Medpace by 9.4% in the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock valued at $361,596,000 after purchasing an additional 102,015 shares in the last quarter. Wasatch Advisors LP grew its stake in Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock valued at $311,247,000 after purchasing an additional 28,161 shares in the last quarter. Mawer Investment Management Ltd. purchased a new position in Medpace in the first quarter valued at about $212,131,000. Finally, Geode Capital Management LLC grew its stake in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock valued at $218,031,000 after purchasing an additional 28,076 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 3.1%

Shares of NASDAQ:MEDP opened at $305.66 on Friday. The stock’s 50-day moving average price is $304.24 and its two-hundred day moving average price is $327.70. Medpace has a 12-month low of $250.05 and a 12-month high of $459.77. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same period last year, the business posted $3.20 EPS. As a group, research analysts forecast that Medpace will post 12.29 earnings per share for the current fiscal 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.