Medpace (NASDAQ:MEDP) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Medpace (NASDAQ:MEDP) had its price target increased by Robert W. Baird from $349.00 to $354.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently weighed in on MEDP. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and cut their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Redburn Atlantic started coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, TD Cowen dropped their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Medpace currently has an average rating of “Hold” and an average price target of $380.56.

Medpace Trading Up 1.1 %

Shares of Medpace stock opened at $338.96 on Monday. Medpace has a 12 month low of $268.80 and a 12 month high of $459.77. The firm has a market capitalization of $10.53 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.87 and a beta of 1.37. The business has a fifty day simple moving average of $338.32 and a two-hundred day simple moving average of $371.75.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. The company had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. Medpace’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $2.22 EPS. Analysts predict that Medpace will post 11.93 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Institutional investors have recently made changes to their positions in the business. Cetera Advisors LLC grew its position in Medpace by 162.4% during the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock valued at $1,054,000 after buying an additional 1,614 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Medpace by 175.6% during the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after acquiring an additional 9,478 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Medpace in the 1st quarter worth $1,239,000. CWA Asset Management Group LLC bought a new position in Medpace in the 3rd quarter worth $1,306,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Medpace by 6.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after purchasing an additional 2,675 shares in the last quarter. 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.