Brokerages Set Medpace Holdings, Inc. (NASDAQ:MEDP) PT at $349.30

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) have been given an average rating of "Hold" by the thirteen research firms that are covering the company, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $349.30.

MEDP has been the topic of several analyst reports. Truist Financial lowered their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. TD Cowen downgraded shares of Medpace from a "buy" rating to a "hold" rating and reduced their price target for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. William Blair restated a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a research report on Monday, March 24th. Finally, Robert W. Baird cut their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd.

Medpace Price Performance

Shares of MEDP traded down $5.75 during trading hours on Wednesday, hitting $298.25. The stock had a trading volume of 327,943 shares, compared to its average volume of 362,254. The company's fifty day moving average is $298.85 and its two-hundred day moving average is $322.77. Medpace has a 52 week low of $250.05 and a 52 week high of $459.77. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 3.81 and a beta of 1.47.

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

Insider Activity at Medpace

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's 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 sale, the director now directly owns 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 20.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Medpace

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in Medpace during the 4th quarter worth approximately $31,000. Geneos Wealth Management Inc. raised its holdings in Medpace by 64.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $29,000 after buying an additional 37 shares during the period. Brooklyn Investment Group raised its holdings in Medpace by 244.8% during the 1st quarter. Brooklyn Investment Group now owns 100 shares of the company's stock worth $30,000 after buying an additional 71 shares during the period. Whittier Trust Co. raised its holdings in Medpace by 47.3% during the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after buying an additional 35 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after acquiring an additional 110 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.