Medpace Holdings, Inc. (NASDAQ:MEDP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $344.82.

Several research firms recently issued reports on MEDP. William Blair restated a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Leerink Partners started coverage on shares of Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective for the company. Mizuho dropped their price target on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Barclays started coverage on shares of Medpace in a research report on Tuesday, June 24th. They set an “equal weight” rating and a $300.00 price target for the company. Finally, Truist Financial dropped their price target on shares of Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd.

Insider Transactions at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director owned 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.30% of the stock is owned by corporate insiders.

Institutional Trading of Medpace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mawer Investment Management Ltd. acquired a new position in Medpace in the 1st quarter valued at $212,131,000. Invesco Ltd. boosted 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 purchasing an additional 519,186 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Medpace during the 4th quarter worth $78,144,000. Vulcan Value Partners LLC boosted its position in shares of Medpace by 221.6% in the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company’s stock worth $99,159,000 after buying an additional 224,578 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Medpace in the 4th quarter worth about $69,859,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Down 1.4%

Shares of NASDAQ MEDP opened at $321.50 on Friday. The firm has a 50-day simple moving average of $303.74 and a 200-day simple moving average of $319.27. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 5.80 and a beta of 1.47. Medpace has a 52 week low of $250.05 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. Medpace had a net margin of 19.31% and a return on equity of 54.36%. The business had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. During the same period in the prior year, the business earned $3.20 earnings per share. As a group, equities research analysts expect that Medpace will post 12.29 EPS for the current year.

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.