Medpace (NASDAQ:MEDP) Price Target Raised to $510.00 at Mizuho

Medpace (NASDAQ:MEDP) had its price target hoisted by Mizuho from $328.00 to $510.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird boosted their price target on Medpace from $313.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen reissued a “sell” rating and issued a $366.00 price target (up from $283.00) on shares of Medpace in a report on Wednesday. Truist Financial lifted their price objective on Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a research report on Wednesday. Cowen downgraded Medpace from a “buy” rating to a “sell” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Medpace from $300.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $411.10.

Medpace Stock Down 1.8%

NASDAQ MEDP opened at $447.49 on Friday. Medpace has a fifty-two week low of $250.05 and a fifty-two week high of $501.30. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 2.91 and a beta of 1.47. The business has a fifty day moving average of $319.66 and a 200-day moving average of $321.05.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.10. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The company had revenue of $603.31 million during the quarter, compared to analysts’ expectations of $537.70 million. During the same period in the previous year, the firm posted $2.75 earnings per share. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, analysts anticipate that Medpace will post 12.29 EPS for the current year.

Institutional Investors Weigh In On Medpace

A number of institutional investors have recently added to or reduced their stakes in MEDP. Corient Private Wealth LLC grew its position in Medpace by 86.1% during the fourth quarter. Corient Private Wealth LLC now owns 2,380 shares of the company’s stock valued at $791,000 after acquiring an additional 1,101 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Medpace during the fourth quarter valued at about $2,093,000. LPL Financial LLC grew its position in Medpace by 5.3% during the fourth quarter. LPL Financial LLC now owns 17,960 shares of the company’s stock valued at $6,010,000 after acquiring an additional 909 shares during the period. Vanguard Group Inc. grew its position in Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock valued at $854,087,000 after acquiring an additional 25,704 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Medpace by 40.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 38,630 shares of the company’s stock worth $12,834,000 after buying an additional 11,099 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.