Medpace (NASDAQ:MEDP) Given New $490.00 Price Target at Robert W. Baird

Medpace (NASDAQ:MEDP - Get Free Report) had its price target boosted by research analysts at Robert W. Baird from $313.00 to $490.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's target price suggests a potential upside of 2.57% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. William Blair reiterated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. TD Cowen reiterated a "sell" rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace in a research note on Wednesday. Barclays began coverage on shares of Medpace in a research note on Tuesday, June 24th. They set an "equal weight" rating and a $300.00 target price for the company. Truist Financial lowered their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Mizuho lowered their price objective on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $364.36.

Medpace Stock Performance

Medpace stock opened at $477.73 on Wednesday. Medpace has a fifty-two week low of $250.05 and a fifty-two week high of $501.30. The firm has a 50 day moving average price of $307.47 and a 200 day moving average price of $317.86. The company has a market capitalization of $13.73 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 5.59 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 54.55%. The firm had revenue of $603.31 million during the quarter, compared to analysts' expectations of $537.70 million. During the same quarter in the previous year, the business posted $2.75 earnings per share. The business's quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts forecast that Medpace will post 12.29 earnings per share for the current year.

Insider Buying and Selling at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction 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 in the company, valued at $904,856.36. This represents a 36.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.30% of the company's stock.

Institutional Investors Weigh In On Medpace

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in Medpace by 64.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $29,000 after acquiring an additional 37 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Medpace by 244.8% during 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. lifted its holdings in shares of Medpace by 47.3% during 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. Colonial Trust Co SC lifted its holdings in shares of Medpace by 150.0% during the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after purchasing an additional 105 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Medpace during the first quarter worth $60,000. 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.

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