Medpace (NASDAQ:MEDP) Lowered to Hold Rating by TD Cowen

TD Cowen lowered shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $328.00 target price on the stock, down from their previous target price of $370.00.

A number of other research analysts also recently commented on MEDP. Leerink Partners assumed coverage on shares of Medpace in a research report on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price on the stock. Truist Financial cut their target price on Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Robert W. Baird upped their target price on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Mizuho cut their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Leerink Partnrs upgraded Medpace to a “hold” rating in a research note on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $357.50.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $296.50 on Monday. Medpace has a 1 year low of $272.00 and a 1 year high of $459.77. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. The business has a 50-day moving average of $320.31 and a two-hundred day moving average of $333.83.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 research analysts expect that Medpace will post 12.29 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

A number of large investors have recently bought and sold shares of the company. R Squared Ltd purchased a new position in Medpace during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Medpace during the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp lifted its holdings in shares of Medpace by 2,750.0% in the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after buying an additional 110 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 29 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors 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.