Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $349.30 Consensus Target Price from Analysts

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

A number of research firms recently commented on MEDP. Mizuho decreased their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Leerink Partnrs upgraded Medpace to a “hold” rating in a research report on Monday, March 24th. Leerink Partners began coverage on Medpace in a report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target on the stock. Robert W. Baird dropped their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Finally, TD Cowen cut Medpace from a “buy” rating to a “hold” rating and cut their target price for the company from $370.00 to $328.00 in a research note on Monday, April 14th.

Insider Activity

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Medpace

Several large investors have recently added to or reduced their stakes in MEDP. Vanguard Group Inc. boosted its stake in Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after buying an additional 25,704 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Medpace by 9.4% in the 1st quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock worth $361,596,000 after buying an additional 102,015 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Medpace by 3.1% during the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after buying an additional 28,161 shares during the period. Mawer Investment Management Ltd. acquired a new stake in Medpace in the 1st quarter valued at $212,131,000. Finally, Geode Capital Management LLC grew its position in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock valued at $218,031,000 after acquiring an additional 28,076 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Down 1.0%

Shares of NASDAQ:MEDP opened at $297.92 on Wednesday. The company has a 50 day moving average of $299.23 and a two-hundred day moving average of $322.10. Medpace has a 52-week low of $250.05 and a 52-week high of $459.77. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 5.43 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to analysts’ expectations 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 firm posted $3.20 earnings per share. On average, equities analysts anticipate that Medpace will post 12.29 earnings per share for the current year.

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.