Medpace (NASDAQ:MEDP) Price Target Lowered to $313.00 at Robert W. Baird

Medpace (NASDAQ:MEDP) had its price objective dropped by stock analysts at Robert W. Baird from $340.00 to $313.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 3.34% from the stock’s current price.

MEDP has been the topic of several other research reports. Mizuho reduced their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Truist Financial decreased their target price on shares of Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a report on Monday, March 24th. William Blair reiterated a “market perform” rating on shares of Medpace in a research report on Tuesday. Finally, Leerink Partners began coverage on shares of Medpace in a report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $349.30.

Medpace Trading Up 4.2 %

NASDAQ:MEDP opened at $302.88 on Wednesday. Medpace has a 12 month low of $250.05 and a 12 month high of $459.77. The firm has a market cap of $9.16 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. The stock has a 50 day moving average of $314.64 and a two-hundred day moving average of $332.04.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The company had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. During the same quarter in the prior year, the company earned $3.20 EPS. On average, research analysts forecast that Medpace will post 12.29 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of Medpace in the fourth quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new stake in Medpace in the 4th quarter valued at about $31,000. Jones Financial Companies Lllp grew its position in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock worth $38,000 after buying an additional 110 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 29 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

About Medpace

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.