Medpace Holdings, Inc. (NASDAQ:MEDP) had its price objective increased by Robert W. Baird from $32.00 to $35.00 in a research report report published on Tuesday morning. The firm currently has a neutral rating on the stock.
MEDP has been the subject of several other reports. Zacks Investment Research cut Medpace Holdings from a buy rating to a hold rating in a report on Tuesday, October 24th. KeyCorp reiterated a hold rating on shares of Medpace Holdings in a research report on Tuesday, October 17th. Raymond James Financial, Inc. began coverage on Medpace Holdings in a research report on Friday, September 29th. They issued a market perform rating for the company. Finally, Jefferies Group LLC reiterated a hold rating and issued a $31.00 price objective (up from $30.00) on shares of Medpace Holdings in a research report on Wednesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $36.20.
Shares of Medpace Holdings (MEDP) traded down 3.34% on Tuesday, hitting $36.22. 143,077 shares of the stock traded hands. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 63.77 and a beta of -0.86. Medpace Holdings has a 12-month low of $21.76 and a 12-month high of $39.64. The stock has a 50-day moving average price of $32.96 and a 200 day moving average price of $30.01.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The firm had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. Medpace Holdings had a net margin of 6.44% and a return on equity of 9.74%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, analysts anticipate that Medpace Holdings will post $1.45 earnings per share for the current fiscal year.
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In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total transaction of $60,540,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 25.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MEDP. Bank of New York Mellon Corp grew its holdings in shares of Medpace Holdings by 15.1% during the 1st quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock worth $1,047,000 after purchasing an additional 4,609 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Medpace Holdings in the first quarter valued at about $1,026,000. American International Group Inc. acquired a new stake in Medpace Holdings in the first quarter valued at about $145,000. Teachers Advisors LLC boosted its stake 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 buying an additional 2,278 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Medpace Holdings by 13.7% in the first quarter. TIAA CREF Investment Management LLC now owns 127,562 shares of the company’s stock valued at $3,808,000 after buying an additional 15,395 shares in the last quarter. 16.32% of the stock is currently owned by institutional investors.
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.
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