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

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned an average rating of “Hold” from the fourteen analysts that are covering the stock, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $344.82.

Several equities research analysts have recently commented on MEDP shares. William Blair restated a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Barclays started coverage on Medpace in a report on Tuesday, June 24th. They set an “equal weight” rating and a $300.00 price objective for the company. Mizuho decreased their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Leerink Partnrs upgraded Medpace to a “hold” rating in a report on Monday, March 24th. Finally, Truist Financial decreased their price objective on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd.

Insider Transactions at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the sale, the director owned 2,998 shares in the company, valued at approximately $904,856.36. This represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MEDP. Jones Financial Companies Lllp boosted its position in Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock worth $38,000 after purchasing an additional 110 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Medpace in the fourth quarter worth $31,000. Charles Schwab Investment Management Inc. boosted its position in Medpace by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,046 shares of the company’s stock worth $66,794,000 after purchasing an additional 2,142 shares during the last quarter. Assetmark Inc. boosted its position in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after purchasing an additional 29 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Medpace by 4.1% in the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company’s stock worth $243,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of MEDP stock opened at $321.50 on Friday. The company has a market cap of $9.24 billion, a P/E ratio of 24.54, a PEG ratio of 5.80 and a beta of 1.47. Medpace has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The stock has a 50 day simple moving average of $303.74 and a two-hundred day simple moving average of $319.27.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.06 by $0.61. The firm had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. During the same quarter in the previous year, the company posted $3.20 earnings per share. On average, research analysts predict that Medpace will post 12.29 earnings per share for the current year.

Medpace Company Profile

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.