Medpace Holdings Inc (NASDAQ:MEDP) has received an average rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $73.75.
A number of research firms recently commented on MEDP. BidaskClub downgraded shares of Medpace from a “strong-buy” rating to a “buy” rating in a report on Monday, July 8th. Credit Suisse Group boosted their target price on shares of Medpace from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday. Wolfe Research began coverage on shares of Medpace in a report on Tuesday, April 2nd. They issued an “outperform” rating on the stock. TheStreet upgraded shares of Medpace from a “c” rating to a “b-” rating in a report on Thursday, June 6th. Finally, SunTrust Banks boosted their target price on shares of Medpace to $85.00 and gave the stock a “buy” rating in a report on Wednesday.
Shares of NASDAQ MEDP traded down $0.58 during midday trading on Wednesday, reaching $79.03. The company’s stock had a trading volume of 741,540 shares, compared to its average volume of 253,440. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average price of $62.53. Medpace has a one year low of $45.88 and a one year high of $80.38. The stock has a market capitalization of $2.28 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56.
Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Medpace by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 406,004 shares of the company’s stock valued at $23,942,000 after acquiring an additional 120,340 shares during the period. Marshall Wace North America L.P. increased its stake in Medpace by 643.4% in the 1st quarter. Marshall Wace North America L.P. now owns 5,449 shares of the company’s stock valued at $321,000 after buying an additional 4,716 shares during the period. Norges Bank acquired a new position in Medpace in the 4th quarter valued at approximately $8,004,000. Geode Capital Management LLC increased its stake in Medpace by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 320,938 shares of the company’s stock valued at $16,986,000 after buying an additional 16,521 shares during the period. Finally, Norris Perne & French LLP MI acquired a new position in Medpace in the 1st quarter valued at approximately $6,470,000. Institutional investors and hedge funds own 77.30% of the company’s stock.
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
See Also: Liquidity
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