Medpace (NASDAQ:MEDP) Downgraded by Zacks Research to Hold

Key Points

• Medpace was downgraded by Zacks Research from a "strong-buy" to a "hold" rating amid mixed responses from various brokerages regarding the stock's performance.
• Despite the downgrade, the company reported an increase in revenue to $603.31 million for the last quarter, surpassing analyst expectations.
• As of now, Medpace has an average target price of $422.27 and has received a mix of ratings from analysts: two "buy," twelve "hold," and three "sell."

Medpace (NASDAQ:MEDP - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on MEDP. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Mizuho lifted their price target on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Barclays lifted their price target on Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group lifted their target price on Medpace from $400.00 to $450.00 and gave the stock a "hold" rating in a report on Tuesday, September 9th. Finally, UBS Group cut Medpace from a "neutral" rating to a "sell" rating and lifted their target price for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $422.27.

Medpace Price Performance

MEDP opened at $496.14 on Monday. Medpace has a 12 month low of $250.05 and a 12 month high of $506.55. The stock has a market cap of $13.94 billion, a P/E ratio of 36.89, a P/E/G ratio of 3.13 and a beta of 1.44. The stock's 50 day moving average price is $454.11 and its 200 day moving average price is $357.57.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.00 by $0.10. Medpace had a return on equity of 67.66% and a net margin of 18.74%.The firm had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. During the same period last year, the firm earned $2.75 EPS. The firm's revenue was up 14.2% compared to the same quarter last year. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. Equities analysts anticipate that Medpace will post 12.29 EPS for the current year.

Insider Buying and Selling

In other Medpace news, VP Susan E. Burwig sold 10,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $480.00, for a total value of $4,800,000.00. Following the completion of the sale, the vice president owned 57,500 shares of the company's stock, valued at $27,600,000. The trade was a 14.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cornelius P. Mccarthy III sold 1,662 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $465.04, for a total value of $772,896.48. Following the completion of the sale, the director directly owned 10,197 shares of the company's stock, valued at $4,742,012.88. This represents a 14.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,266 shares of company stock valued at $74,111,427. 20.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medpace

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of Medpace by 64.9% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $29,000 after purchasing an additional 37 shares during the period. Brooklyn Investment Group increased its stake in shares of Medpace by 244.8% in the first quarter. Brooklyn Investment Group now owns 100 shares of the company's stock worth $30,000 after purchasing an additional 71 shares during the period. Whittier Trust Co. increased its stake in shares of Medpace by 47.3% in the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after purchasing an additional 35 shares during the period. Employees Retirement System of Texas bought a new position in shares of Medpace in the second quarter worth about $36,000. Finally, IFP Advisors Inc increased its stake in shares of Medpace by 223.3% in the second quarter. IFP Advisors Inc now owns 194 shares of the company's stock worth $61,000 after purchasing an additional 134 shares during the period. 77.98% of the stock is currently owned by institutional investors.

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.

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