Medpace Holdings, Inc. (MEDP) Given Consensus Rating of “Buy” by Analysts
Medpace Holdings, Inc. (NASDAQ:MEDP) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $34.75.
MEDP has been the topic of several analyst reports. Credit Suisse Group restated an “outperform” rating and issued a $36.00 target price (up from $35.00) on shares of Medpace Holdings in a research report on Tuesday, June 6th. Zacks Investment Research upgraded Medpace Holdings from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $31.00 target price (up from $30.00) on shares of Medpace Holdings in a research report on Wednesday, August 2nd.
In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 25.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. bought a new position in Medpace Holdings during the 1st quarter valued at $145,000. Tudor Investment Corp ET AL boosted its stake in Medpace Holdings by 16.4% during the 1st quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock valued at $205,000 after purchasing an additional 967 shares in the last quarter. Susquehanna International Group LLP bought a new position in Medpace Holdings during the 2nd quarter valued at $220,000. Credit Suisse AG bought a new position in Medpace Holdings during the 1st quarter valued at $231,000. Finally, TFS Capital LLC bought a new position in Medpace Holdings during the 1st quarter valued at $232,000. 15.98% of the stock is owned by hedge funds and other institutional investors.
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Shares of Medpace Holdings (MEDP) opened at 31.01 on Friday. The company has a 50 day moving average price of $31.45 and a 200-day moving average price of $28.94. The stock has a market capitalization of $1.22 billion and a P/E ratio of 54.60. Medpace Holdings has a 1-year low of $21.76 and a 1-year high of $38.94.
Medpace Holdings (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The business had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $92.71 million. During the same period in the prior year, the firm earned $0.45 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Medpace Holdings will post $1.43 EPS for the current fiscal year.
Medpace Holdings Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support.
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