Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $376.30 Average Target Price from Analysts

Medpace Holdings, Inc. (NASDAQ:MEDP) has received an average rating of “Hold” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $376.30.

MEDP has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Leerink Partners started coverage on Medpace in a research report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target on the stock. Finally, Leerink Partnrs raised Medpace to a “hold” rating in a research report on Monday, March 24th.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $312.36 on Friday. The firm has a market capitalization of $9.52 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47. Medpace has a 1 year low of $302.01 and a 1 year high of $459.77. The firm’s 50-day moving average is $335.90 and its two-hundred day moving average is $339.18.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. Analysts expect that Medpace will post 12.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Medpace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after buying an additional 519,186 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Medpace by 34,497.4% during the 4th quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock worth $80,575,000 after acquiring an additional 241,827 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Medpace in the fourth quarter valued at $78,144,000. Norges Bank acquired a new position in Medpace in the fourth quarter valued at $69,859,000. Finally, Iron Triangle Partners LP acquired a new position in Medpace in the third quarter valued at $64,371,000. 77.98% of the stock is owned by institutional investors and hedge funds.

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.