Medpace Holdings, Inc. (MEDP) Receives Consensus Rating of “Buy” from Analysts
Medpace Holdings, Inc. (NASDAQ:MEDP) has received a consensus rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $34.20.
MEDP has been the subject of several research reports. Zacks Investment Research downgraded shares of Medpace Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and issued a $31.00 price target (up previously from $30.00) on shares of Medpace Holdings in a research note on Wednesday, August 2nd. Robert W. Baird restated a “hold” rating and issued a $32.00 price target on shares of Medpace Holdings in a research note on Monday. Finally, Raymond James Financial, Inc. initiated coverage on shares of Medpace Holdings in a research note on Friday, September 29th. They issued a “market perform” rating for the company.
Shares of Medpace Holdings (NASDAQ MEDP) opened at 34.07 on Thursday. Medpace Holdings has a 12-month low of $21.76 and a 12-month high of $38.94. The firm’s 50-day moving average price is $32.21 and its 200-day moving average price is $29.50. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 59.98 and a beta of -0.86.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 31st. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.08. The business had revenue of $94.60 million during the quarter, compared to the consensus estimate of $92.71 million. Medpace Holdings had a net margin of 5.37% and a return on equity of 9.32%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, analysts forecast that Medpace Holdings will post $1.43 EPS for the current fiscal year.
In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $30.27, for a total transaction of $60,540,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 25.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its stake in shares of Medpace Holdings by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 28,074 shares of the company’s stock worth $815,000 after purchasing an additional 152 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Medpace Holdings by 1.4% in the second quarter. Goldman Sachs Group Inc. now owns 34,690 shares of the company’s stock valued at $1,006,000 after acquiring an additional 482 shares during the last quarter. Tudor Investment Corp ET AL lifted its position in Medpace Holdings by 16.4% in the first quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock valued at $205,000 after acquiring an additional 967 shares during the last quarter. Rhumbline Advisers lifted its position in Medpace Holdings by 13.3% in the second quarter. Rhumbline Advisers now owns 9,726 shares of the company’s stock valued at $282,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in Medpace Holdings by 9.1% in the first quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock valued at $814,000 after acquiring an additional 2,278 shares during the last quarter. Hedge funds and other institutional investors own 15.98% of the company’s stock.
About Medpace Holdings
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.
Receive News & Ratings for Medpace Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.