Medpace Holdings, Inc. (NASDAQ:MEDP) Given Consensus Recommendation of "Hold" by Brokerages

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) has been assigned a consensus rating of "Hold" from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $349.30.

A number of analysts have recently weighed in on the stock. TD Cowen downgraded shares of Medpace from a "buy" rating to a "hold" rating and decreased their price target for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Leerink Partners started coverage on Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price on the stock. Mizuho reduced their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. William Blair reiterated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, Truist Financial decreased their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd.

Medpace Trading Down 1.2%

MEDP traded down $3.58 during trading on Wednesday, hitting $302.31. 315,358 shares of the company's stock were exchanged, compared to its average volume of 359,449. The stock has a 50 day moving average price of $297.85 and a 200 day moving average price of $323.40. Medpace has a 1 year low of $250.05 and a 1 year high of $459.77. The firm has a market cap of $8.69 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The firm had revenue of $558.57 million during the quarter, compared to analysts' expectations of $528.38 million. During the same quarter in the prior year, the business earned $3.20 EPS. Analysts forecast that Medpace will post 12.29 earnings per share for the current fiscal year.

Insider Activity at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the sale, the director now owns 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Militia Capital Partners LP increased its stake in Medpace by 3,839.4% in the first quarter. Militia Capital Partners LP now owns 13,000 shares of the company's stock valued at $3,961,000 after purchasing an additional 12,670 shares in the last quarter. Inspire Investing LLC acquired a new position in Medpace during the 1st quarter worth approximately $2,059,000. Strs Ohio bought a new position in Medpace in the first quarter valued at $10,055,000. Geneos Wealth Management Inc. raised its holdings in Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $29,000 after acquiring an additional 37 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Medpace by 61.1% during the 1st quarter. Intech Investment Management LLC now owns 21,354 shares of the company's stock worth $6,506,000 after purchasing an additional 8,097 shares in the last quarter. 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.