Medpace (NASDAQ:MEDP) Downgraded to Hold at Baird R W

Baird R W lowered shares of Medpace (NASDAQ:MEDP) from a strong-buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday. Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and lowered their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Guggenheim lowered their price target on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Trading Up 1.1 %

Shares of MEDP opened at $330.07 on Wednesday. Medpace has a twelve month low of $239.00 and a twelve month high of $459.77. The stock’s 50 day moving average is $353.71 and its two-hundred day moving average is $382.20. The firm has a market capitalization of $10.23 billion, a PE ratio of 33.65, a P/E/G ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the previous year, the company earned $2.22 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Medpace will post 11.64 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. TD Asset Management Inc lifted its stake in shares of Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after purchasing an additional 107,108 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the period. Epoch Investment Partners Inc. lifted its stake in shares of Medpace by 15.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Medpace by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after purchasing an additional 6,137 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and 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 services.