Medpace (NASDAQ:MEDP) Price Target Raised to $430.00 at Deutsche Bank Aktiengesellschaft

Medpace (NASDAQ:MEDP - Get Free Report) had its price objective raised by stock analysts at Deutsche Bank Aktiengesellschaft from $270.00 to $430.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential downside of 3.91% from the company's previous close.

MEDP has been the topic of several other research reports. William Blair reaffirmed a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Truist Financial decreased their price objective 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. Mizuho decreased their price objective 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. TD Cowen reissued a "sell" rating and set a $366.00 price objective (up previously from $283.00) on shares of Medpace in a report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $411.10.

Medpace Stock Performance

Shares of MEDP stock traded down $8.19 during mid-day trading on Wednesday, reaching $447.49. The company's stock had a trading volume of 763,602 shares, compared to its average volume of 461,353. Medpace has a 1-year low of $250.05 and a 1-year high of $501.30. The company has a market cap of $12.86 billion, a P/E ratio of 33.27, a PEG ratio of 7.96 and a beta of 1.47. The firm's 50-day moving average is $316.82 and its two-hundred day moving average is $320.36.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The business had revenue of $603.31 million for the quarter, compared to analyst estimates of $537.70 million. During the same quarter in the prior year, the firm earned $2.75 EPS. The firm's quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts anticipate that Medpace will post 12.29 EPS for the current year.

Hedge Funds Weigh In On Medpace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock worth $854,087,000 after acquiring an additional 25,704 shares in the last quarter. Invesco Ltd. increased its position in Medpace by 9.4% during the 1st quarter. Invesco Ltd. now owns 1,186,768 shares of the company's stock valued at $361,596,000 after purchasing an additional 102,015 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Medpace by 3.1% during the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after buying an additional 28,161 shares in the last quarter. Mawer Investment Management Ltd. bought a new position in shares of Medpace during the 1st quarter worth approximately $212,131,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Medpace by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after buying an additional 28,076 shares in the last quarter. 77.98% of the stock is 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.