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

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $349.30.

MEDP has been the topic of a number of recent analyst reports. Robert W. Baird cut their price target on shares of 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 report on Wednesday, April 9th. William Blair reaffirmed a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Leerink Partnrs upgraded Medpace to a “hold” rating in a research note on Monday, March 24th. Finally, TD Cowen lowered Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $370.00 to $328.00 in a report on Monday, April 14th.

Medpace Price Performance

Medpace stock opened at $294.89 on Friday. Medpace has a 1-year low of $250.05 and a 1-year high of $459.77. The business has a fifty day moving average price of $301.83 and a 200-day moving average price of $326.99. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The business had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same quarter last year, the company earned $3.20 earnings per share. On average, equities research analysts anticipate that Medpace will post 12.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director now owns 2,998 shares of the company’s stock, valued at approximately $904,856.36. This represents a 36.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

Institutional investors have recently bought and sold shares of the business. Mawer Investment Management Ltd. purchased a new position in shares of Medpace during the 1st quarter valued at approximately $212,131,000. Invesco Ltd. raised its position in Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after acquiring an additional 519,186 shares during the period. Proficio Capital Partners LLC lifted its holdings in Medpace by 34,497.4% during the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock valued at $80,575,000 after purchasing an additional 241,827 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Medpace during the fourth quarter valued at $78,144,000. Finally, Vulcan Value Partners LLC grew its position in shares of Medpace by 221.6% in the first quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company’s stock valued at $99,159,000 after purchasing an additional 224,578 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

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.