Medpace (NASDAQ:MEDP) Given New $510.00 Price Target at Mizuho

Key Points

• Mizuho has raised its price target for Medpace (NASDAQ:MEDP) from $328.00 to $510.00, indicating a potential upside of 15.24% from the current stock price.
• The stock has received mixed ratings from analysts, with two sell ratings, eleven holds, and two buys, resulting in a consensus rating of "Hold" and an average target price of $411.10.
• Medpace recently reported earnings per share of $3.10, exceeding estimates, with a quarterly revenue increase of 14.2% year-over-year, reaching $603.31 million.
• Institutional investors own approximately 77.98% of Medpace's stock, showing increased interest from major investment firms in recent months.

Medpace (NASDAQ:MEDP - Get Free Report) had its target price boosted by Mizuho from $328.00 to $510.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price target indicates a potential upside of 15.24% from the stock's current price.

MEDP has been the subject of a number of other reports. TD Cowen reissued a "sell" rating and set a $366.00 target price (up from $283.00) on shares of Medpace in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday. William Blair restated a "market perform" rating on shares of Medpace in a report on Wednesday. Truist Financial lifted their price objective on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Barclays lifted their price objective on Medpace from $300.00 to $450.00 and gave the company an "equal weight" 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 given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $411.10.

Medpace Stock Performance

NASDAQ MEDP traded down $13.11 on Friday, hitting $442.57. 429,942 shares of the stock were exchanged, compared to its average volume of 458,809. The stock has a fifty day moving average price of $316.82 and a two-hundred day moving average price of $320.36. The firm has a market capitalization of $12.72 billion, a P/E ratio of 32.77, a P/E/G ratio of 7.96 and a beta of 1.47. Medpace has a 52-week low of $250.05 and a 52-week high of $501.30.

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

Institutional Investors Weigh In On Medpace

A number of large investors have recently bought and sold shares of MEDP. Geneos Wealth Management Inc. boosted its position in Medpace by 64.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $29,000 after purchasing an additional 37 shares in the last quarter. Brooklyn Investment Group boosted its position in Medpace by 244.8% in the 1st quarter. Brooklyn Investment Group now owns 100 shares of the company's stock worth $30,000 after purchasing an additional 71 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Medpace by 47.3% during the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after buying an additional 35 shares during the period. Colonial Trust Co SC raised its stake in shares of Medpace by 150.0% during the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after buying an additional 105 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of Medpace by 223.3% during the 2nd quarter. IFP Advisors Inc now owns 194 shares of the company's stock worth $61,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.