Medpace Holdings Inc (NASDAQ:MEDP) Receives Consensus Rating of “Buy” from Analysts

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.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 29th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.18. Medpace had a net margin of 10.49% and a return on equity of 17.16%. The business had revenue of $214.10 million for the quarter, compared to the consensus estimate of $200.99 million. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Research analysts anticipate that Medpace will post 2.65 EPS for the current year.

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.

About Medpace

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

Analyst Recommendations for Medpace (NASDAQ:MEDP)

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