Medpace Holdings, Inc. (NASDAQ:MEDP) Receives $344.82 Consensus Target Price from Brokerages

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) has been given an average rating of "Hold" by the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $344.82.

Several research analysts have recently issued reports on MEDP shares. Leerink Partnrs raised Medpace to a "hold" rating in a research note on Monday, March 24th. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Barclays initiated coverage on Medpace in a research note on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 price objective for the company. Robert W. Baird decreased their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial decreased their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd.

Insider Activity at Medpace

In other 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 completion of the sale, the director owned 2,998 shares of the company's stock, valued at $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 available through this link. 20.30% of the stock is currently owned by company insiders.

Institutional Trading of Medpace

Several large investors have recently modified their holdings of the stock. City Center Advisors LLC acquired a new stake in shares of Medpace during the 2nd quarter worth approximately $206,000. Voya Investment Management LLC lifted its holdings in shares of Medpace by 7.6% in the 1st quarter. Voya Investment Management LLC now owns 21,976 shares of the company's stock worth $6,696,000 after purchasing an additional 1,560 shares in the last quarter. Militia Capital Partners LP lifted its holdings in shares of Medpace by 3,839.4% in the 1st quarter. Militia Capital Partners LP now owns 13,000 shares of the company's stock worth $3,961,000 after purchasing an additional 12,670 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Medpace in the 1st quarter worth $2,059,000. Finally, Strs Ohio bought a new position in shares of Medpace in the 1st quarter worth $10,055,000. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Stock Down 1.4%

Shares of MEDP stock traded down $4.53 on Friday, reaching $321.50. The company had a trading volume of 175,561 shares, compared to its average volume of 374,914. The stock has a market capitalization of $9.24 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 5.80 and a beta of 1.47. Medpace has a one year low of $250.05 and a one year high of $459.77. The business's 50-day moving average is $303.74 and its 200 day moving average is $319.27.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 54.36% and a net margin of 19.31%. The company had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same quarter in the prior year, the firm posted $3.20 earnings per share. On average, sell-side analysts forecast that Medpace will post 12.29 earnings per share for the current fiscal year.

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.