Medpace (NASDAQ:MEDP) Coverage Initiated by Analysts at Leerink Partners

Investment analysts at Leerink Partners started coverage on shares of Medpace (NASDAQ:MEDP) in a report issued on Monday,Benzinga reports. The brokerage set a “market perform” rating and a $330.00 price target on the stock. Leerink Partners’ price objective suggests a potential upside of 1.78% from the company’s previous close.

Separately, Robert W. Baird upped their price target on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $376.30.

Medpace Price Performance

MEDP opened at $324.23 on Monday. Medpace has a 1-year low of $302.01 and a 1-year high of $459.77. The stock has a market cap of $9.88 billion, a P/E ratio of 25.67, a P/E/G ratio of 3.81 and a beta of 1.47. The stock’s 50 day simple moving average is $337.72 and its 200 day simple moving average is $339.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. Research analysts expect that Medpace will post 12.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

A number of hedge funds and other institutional investors have recently made changes to their positions in MEDP. Advisors Asset Management Inc. boosted its stake in Medpace by 16.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,149 shares of the company’s stock worth $2,053,000 after buying an additional 854 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Medpace by 34.6% in the third quarter. Raymond James Trust N.A. now owns 754 shares of the company’s stock worth $252,000 after acquiring an additional 194 shares during the last quarter. Cerity Partners LLC increased its position in Medpace by 18.7% during the third quarter. Cerity Partners LLC now owns 61,890 shares of the company’s stock worth $20,659,000 after purchasing an additional 9,741 shares during the last quarter. Swedbank AB purchased a new position in Medpace during the third quarter worth approximately $7,477,000. Finally, Centaurus Financial Inc. boosted its holdings in shares of Medpace by 2.0% in the 3rd quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock valued at $505,000 after purchasing an additional 29 shares during the last quarter. 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.