BidaskClub Lowers Medpace (NASDAQ:MEDP) to Buy

BidaskClub downgraded shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning, BidAskClub reports.

MEDP has been the subject of several other research reports. Zacks Investment Research lowered W. R. Grace & Co from a buy rating to a hold rating in a research report on Wednesday, May 1st. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Wolfe Research initiated coverage on Iqvia in a research report on Tuesday, April 2nd. They issued a market perform rating for the company. Robert W. Baird lifted their price target on Shopify from $208.00 to $269.00 and gave the stock an outperform rating in a research report on Tuesday, April 30th. Finally, TheStreet lowered Zumiez from a b rating to a c+ rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $61.25.

Shares of MEDP stock opened at $62.56 on Monday. Medpace has a 12-month low of $43.78 and a 12-month high of $71.66. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $59.36. The company has a market capitalization of $2.24 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.96 and a beta of 1.56.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 29th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The firm had revenue of $200.70 million for the quarter, compared to analysts’ expectations of $190.16 million. Medpace had a return on equity of 17.16% and a net margin of 10.49%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, research analysts forecast that Medpace will post 2.64 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in MEDP. SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new position in shares of Medpace during the fourth quarter valued at approximately $87,000. Marshall Wace LLP purchased a new position in shares of Medpace during the first quarter valued at approximately $99,000. NumerixS Investment Technologies Inc purchased a new position in shares of Medpace during the fourth quarter valued at approximately $119,000. LS Investment Advisors LLC boosted its position in shares of Medpace by 215.5% during the first quarter. LS Investment Advisors LLC now owns 2,745 shares of the company’s stock valued at $162,000 after buying an additional 1,875 shares during the period. Finally, South Dakota Investment Council purchased a new position in shares of Medpace during the first quarter valued at approximately $189,000. Institutional investors and hedge funds own 76.70% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

Featured Story: Average Daily Trade Volume – What It Means In Stock Trading

Analyst Recommendations for Medpace (NASDAQ:MEDP)

Receive News & Ratings for Medpace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace and related companies with MarketBeat.com's FREE daily email newsletter.