Brokerages Set Medpace Holdings, Inc. (NASDAQ:MEDP) Target Price at $357.50

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen research firms that are presently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $349.30.

A number of equities analysts have issued reports on MEDP shares. Leerink Partners initiated coverage on Medpace in a report on Monday, March 24th. They set a "market perform" rating and a $330.00 target price for the company. Robert W. Baird decreased their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a report on Wednesday. Truist Financial dropped their target price on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research report on Wednesday. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research report on Tuesday. Finally, Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a report on Monday, March 24th.

Medpace Trading Down 1.4 %

Shares of NASDAQ MEDP traded down $4.33 during mid-day trading on Tuesday, reaching $298.55. 399,606 shares of the company's stock were exchanged, compared to its average volume of 339,939. The business has a fifty day simple moving average of $313.79 and a 200 day simple moving average of $331.70. Medpace has a twelve month low of $250.05 and a twelve month high of $459.77. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.81 and a beta of 1.46.

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

Institutional Trading of Medpace

A number of hedge funds have recently made changes to their positions in MEDP. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Medpace by 17.5% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 343 shares of the company's stock worth $105,000 after acquiring an additional 51 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Medpace by 1.1% in the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock valued at $177,411,000 after purchasing an additional 6,225 shares during the last quarter. Moran Wealth Management LLC bought a new position in shares of Medpace in the first quarter valued at about $5,158,000. Sheets Smith Wealth Management lifted its stake in shares of Medpace by 4.6% during the 1st quarter. Sheets Smith Wealth Management now owns 3,289 shares of the company's stock worth $1,002,000 after buying an additional 144 shares during the last quarter. Finally, Ausbil Investment Management Ltd bought a new stake in shares of Medpace during the 1st quarter worth about $601,000. 77.98% of the stock is owned by institutional investors and hedge funds.

About Medpace

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.