Mizuho Issues Pessimistic Forecast for Medpace (NASDAQ:MEDP) Stock Price

Medpace (NASDAQ:MEDP) had its target price trimmed by Mizuho from $400.00 to $355.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently commented on MEDP. Robert W. Baird upped their price objective on shares of Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Leerink Partners assumed coverage on Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 target price on the stock. Finally, Leerink Partnrs raised Medpace to a “hold” rating in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Medpace presently has a consensus rating of “Hold” and a consensus target price of $361.90.

Medpace Trading Down 6.5 %

MEDP stock traded down $19.78 on Wednesday, hitting $282.78. The company’s stock had a trading volume of 377,984 shares, compared to its average volume of 314,657. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. The firm has a 50 day moving average of $325.79 and a two-hundred day moving average of $335.08. Medpace has a 1 year low of $272.00 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, February 10th. The company reported $3.67 EPS 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%. As a group, equities analysts forecast that Medpace will post 12.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Medpace by 7.2% in the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after acquiring an additional 50,312 shares during the period. Orion Portfolio Solutions LLC increased its stake in Medpace by 75.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 949 shares of the company’s stock valued at $317,000 after buying an additional 407 shares during the period. MML Investors Services LLC lifted its position in Medpace by 6.0% in the third quarter. MML Investors Services LLC now owns 3,237 shares of the company’s stock worth $1,081,000 after purchasing an additional 184 shares during the period. Barclays PLC raised its position in Medpace by 71.9% in the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after acquiring an additional 8,275 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Medpace by 1.2% in the 3rd quarter. M&T Bank Corp now owns 3,199 shares of the company’s stock valued at $1,068,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Company Profile

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.