Medpace (NASDAQ:MEDP) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research note published on Thursday.

A number of other brokerages have also recently commented on MEDP. Guggenheim reduced their price target on Medpace from $464.00 to $432.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Robert W. Baird reduced their price target on Medpace from $469.00 to $430.00 and set an outperform rating for the company in a research report on Wednesday, July 24th. William Blair restated an outperform rating on shares of Medpace in a research report on Tuesday, July 23rd. Truist Financial began coverage on Medpace in a research report on Thursday, August 1st. They issued a hold rating and a $415.00 price target for the company. Finally, TD Cowen reduced their price target on Medpace from $452.00 to $434.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Medpace currently has a consensus rating of Moderate Buy and an average price target of $423.00.

Medpace Stock Performance

Medpace stock opened at $335.74 on Thursday. The stock has a market cap of $10.40 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. Medpace has a one year low of $227.21 and a one year high of $459.77. The stock has a fifty day moving average of $390.71 and a 200 day moving average of $395.39.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The business had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 earnings per share. As a group, sell-side analysts predict that Medpace will post 11.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently made changes to their positions in the business. FORA Capital LLC bought a new position in Medpace during the first quarter valued at approximately $2,222,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Medpace during the first quarter valued at approximately $5,179,000. Eagle Asset Management Inc. boosted its stake in Medpace by 155.0% during the fourth quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock valued at $69,409,000 after buying an additional 137,632 shares during the last quarter. Evoke Wealth LLC bought a new position in Medpace during the fourth quarter valued at approximately $3,149,000. Finally, Norden Group LLC boosted its stake in Medpace by 488.0% during the first quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after buying an additional 24,466 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

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.