Medpace Holdings, Inc. (NASDAQ:MEDP)‘s stock had its “hold” rating reaffirmed by equities research analysts at Robert W. Baird in a note issued to investors on Monday. They presently have a $32.00 target price on the stock. Robert W. Baird’s price target suggests a potential downside of 4.73% from the stock’s previous close.
MEDP has been the subject of a number of other reports. Zacks Investment Research raised Medpace Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Saturday, September 9th. Raymond James Financial, Inc. started coverage on Medpace Holdings in a report on Friday, September 29th. They issued a “market perform” rating for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $31.00 price target (up from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.20.
Medpace Holdings (NASDAQ:MEDP) opened at 33.59 on Monday. The stock’s 50 day moving average price is $32.14 and its 200 day moving average price is $29.47. Medpace Holdings has a 52 week low of $21.76 and a 52 week high of $38.94. The company has a market capitalization of $1.33 billion, a P/E ratio of 59.14 and a beta of -0.85.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 31st. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.08. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The firm had revenue of $94.60 million during the quarter, compared to analyst estimates of $92.71 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that Medpace Holdings will post $1.43 earnings per share for the current year.
In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.80% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of MEDP. American International Group Inc. purchased a new stake in shares of Medpace Holdings in the first quarter worth $145,000. Tudor Investment Corp ET AL raised its position in shares of Medpace Holdings by 16.4% in the first quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock worth $205,000 after buying an additional 967 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Medpace Holdings in the second quarter worth $220,000. Credit Suisse AG purchased a new stake in shares of Medpace Holdings in the first quarter worth $231,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Medpace Holdings in the first quarter worth $246,000. Institutional investors own 15.98% of the company’s stock.
Medpace Holdings Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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