Medpace (NASDAQ:MEDP) Lowered to Hold Rating by TD Cowen

TD Cowen cut shares of Medpace (NASDAQ:MEDP - Free Report) from a buy rating to a hold rating in a research report report published on Monday, Marketbeat.com reports. The firm currently has $328.00 target price on the stock, down from their previous target price of $370.00.

MEDP has been the topic of several other reports. Truist Financial decreased their target price on shares of Medpace from $347.00 to $333.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Mizuho decreased their price target on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Robert W. Baird upped their price objective on Medpace from $354.00 to $362.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Leerink Partnrs upgraded Medpace to a "hold" rating in a report on Monday, March 24th. Finally, Leerink Partners began coverage on Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 price target for the company. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $357.50.

Medpace Stock Performance

Medpace stock traded down $0.22 during midday trading on Monday, reaching $296.28. 698,291 shares of the company were exchanged, compared to its average volume of 325,831. The firm's 50-day simple moving average is $318.52 and its 200-day simple moving average is $333.31. Medpace has a 1 year low of $272.00 and a 1 year high of $459.77. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. On average, analysts forecast that Medpace will post 12.29 EPS for the current fiscal year.

Institutional Trading of Medpace

Large investors have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Medpace during the 4th quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new position in Medpace in the 4th quarter valued at about $31,000. Jones Financial Companies Lllp grew its stake in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock valued at $38,000 after acquiring an additional 110 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock worth $45,000 after acquiring an additional 29 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after purchasing an additional 29 shares during 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.