Medpace Holdings, Inc. (NASDAQ:MEDP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “
Several other research firms also recently weighed in on MEDP. Jefferies Group LLC lifted their target price on Medpace Holdings from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Raymond James Financial, Inc. initiated coverage on Medpace Holdings in a research report on Friday, September 29th. They set a “market perform” rating for the company. William Blair downgraded Medpace Holdings from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Robert W. Baird reiterated a “hold” rating and set a $32.00 target price on shares of Medpace Holdings in a research report on Monday, October 9th. Finally, KeyCorp reiterated a “hold” rating on shares of Medpace Holdings in a research report on Tuesday, October 17th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.60.
Medpace Holdings (MEDP) opened at $34.39 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $1,299.30, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.77 and a beta of -0.34. Medpace Holdings has a one year low of $21.76 and a one year high of $39.64.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 30th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $98.68 million during the quarter, compared to analyst estimates of $96.84 million. Medpace Holdings had a net margin of 6.44% and a return on equity of 10.00%. Medpace Holdings’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. equities analysts anticipate that Medpace Holdings will post 1.5 EPS for the current fiscal year.
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In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of Medpace Holdings stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 25.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MEDP. First Quadrant L P CA bought a new stake in shares of Medpace Holdings in the third quarter valued at about $119,000. American International Group Inc. bought a new stake in shares of Medpace Holdings in the first quarter valued at about $145,000. Tudor Investment Corp ET AL raised its holdings 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 valued at $205,000 after acquiring an additional 967 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Medpace Holdings in the second quarter valued at about $220,000. Finally, Credit Suisse AG bought a new stake in shares of Medpace Holdings in the first quarter valued at about $231,000. Hedge funds and other institutional investors own 17.62% of the company’s stock.
About Medpace Holdings
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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