Medpace Holdings Inc (MEDP) Given Average Recommendation of “Hold” by Brokerages

Medpace Holdings Inc (NASDAQ:MEDP) has been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $37.25.

MEDP has been the subject of several analyst reports. KeyCorp reiterated a “hold” rating on shares of Medpace in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Robert W. Baird upped their price objective on shares of Medpace from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. William Blair cut shares of Medpace from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Jefferies Group upped their price objective on shares of Medpace from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st.

In other Medpace news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total transaction of $138,736,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 25.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Medpace 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 buying an additional 152 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Medpace by 1.4% during the second quarter. Goldman Sachs Group Inc. now owns 34,690 shares of the company’s stock worth $1,006,000 after buying an additional 482 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Medpace by 30.9% during the third quarter. Susquehanna International Group LLP now owns 9,947 shares of the company’s stock worth $317,000 after buying an additional 2,347 shares in the last quarter. Convergence Investment Partners LLC grew its holdings in shares of Medpace by 13.4% during the third quarter. Convergence Investment Partners LLC now owns 24,819 shares of the company’s stock worth $792,000 after buying an additional 2,940 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Medpace by 42.8% during the third quarter. Wells Fargo & Company MN now owns 10,354 shares of the company’s stock worth $330,000 after buying an additional 3,104 shares in the last quarter. 17.15% of the stock is owned by institutional investors and hedge funds.

Medpace (MEDP) opened at $37.53 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. Medpace has a 12 month low of $21.76 and a 12 month high of $39.64. The stock has a market cap of $1,355.55, a price-to-earnings ratio of 55.19, a P/E/G ratio of 1.53 and a beta of -0.76.

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About Medpace

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.

Analyst Recommendations for Medpace (NASDAQ:MEDP)

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