Brokerages Set Medpace Holdings, Inc. (NASDAQ:MEDP) Target Price at $349.30

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have been assigned an average recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $349.30.

MEDP has been the subject of a number of recent analyst reports. TD Cowen downgraded shares of Medpace from a “buy” rating to a “hold” rating and cut their price target for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Robert W. Baird cut their price target on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Mizuho cut their price target on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Leerink Partnrs raised shares of Medpace to a “hold” rating in a report on Monday, March 24th. Finally, William Blair reaffirmed a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd.

Insider Activity at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the transaction, the director now owns 2,998 shares of the company’s stock, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Medpace

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock valued at $854,087,000 after acquiring an additional 25,704 shares during the last quarter. Invesco Ltd. raised its stake in shares of Medpace by 9.4% during the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock valued at $361,596,000 after acquiring an additional 102,015 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of Medpace by 3.1% during the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock valued at $311,247,000 after acquiring an additional 28,161 shares during the last quarter. Mawer Investment Management Ltd. acquired a new stake in shares of Medpace during the first quarter worth $212,131,000. Finally, Geode Capital Management LLC increased its position in shares of Medpace by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock worth $218,031,000 after buying an additional 28,076 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Down 1.9%

Shares of NASDAQ:MEDP opened at $298.25 on Wednesday. The company’s 50 day moving average price is $298.85 and its two-hundred day moving average price is $322.54. Medpace has a 12-month low of $250.05 and a 12-month high of $459.77. The firm has a market cap of $8.57 billion, a PE ratio of 23.61, a PEG ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The firm had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same quarter in the prior year, the business posted $3.20 EPS. On average, 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.