BidaskClub Downgrades Medpace (MEDP) to Sell

Medpace (NASDAQ:MEDP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Medpace from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a report on Saturday, September 9th. Robert W. Baird upped their target price on shares of Medpace from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. KeyCorp restated a “hold” rating on shares of Medpace in a report on Tuesday, October 17th. Jefferies Group upped their target price on shares of Medpace from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, November 1st. Finally, William Blair lowered shares of Medpace from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.60.

Shares of Medpace (NASDAQ MEDP) opened at $33.66 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.68. Medpace has a fifty-two week low of $21.76 and a fifty-two week high of $39.64. The firm has a market cap of $1,247.69, a PE ratio of 22.58, a P/E/G ratio of 1.70 and a beta of -0.96.

Medpace (NASDAQ:MEDP) last posted its 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. Medpace had a net margin of 6.44% and a return on equity of 10.00%. The company had revenue of $98.68 million for the quarter, compared to analyst estimates of $96.84 million. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. analysts expect that Medpace will post 1.5 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Medpace by 23.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after purchasing an additional 191,597 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Medpace by 3.1% during the 2nd quarter. Federated Investors Inc. PA now owns 184,469 shares of the company’s stock valued at $5,350,000 after acquiring an additional 5,554 shares during the period. Parametric Portfolio Associates LLC bought a new position in shares of Medpace during the 2nd quarter valued at approximately $325,000. Northern Trust Corp grew its position in shares of Medpace by 15.9% during the 2nd quarter. Northern Trust Corp now owns 101,728 shares of the company’s stock valued at $2,950,000 after acquiring an additional 13,938 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Medpace by 138.2% during the 2nd quarter. Prudential Financial Inc. now owns 81,870 shares of the company’s stock valued at $2,374,000 after acquiring an additional 47,500 shares during the period. 16.80% of the stock is owned by institutional investors and hedge funds.

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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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