Medpace (NASDAQ:MEDP) Stock Price Expected to Rise, Truist Financial Analyst Says

Medpace (NASDAQ:MEDP - Free Report) had its price target boosted by Truist Financial from $298.00 to $436.00 in a research report released on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities research analysts have also weighed in on MEDP. TD Cowen reaffirmed a "sell" rating and set a $366.00 price target (up from $283.00) on shares of Medpace in a report on Wednesday. Robert W. Baird upped their price objective on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research report on Wednesday. Cowen downgraded Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday. Mizuho cut their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays increased their price target on Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Medpace presently has a consensus rating of "Hold" and a consensus target price of $398.91.

Medpace Stock Performance

Shares of MEDP stock traded up $18.27 during trading hours on Wednesday, reaching $455.68. The company had a trading volume of 908,271 shares, compared to its average volume of 657,253. The company has a market capitalization of $12.80 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 7.96 and a beta of 1.47. Medpace has a twelve month low of $250.05 and a twelve month high of $501.30. The stock's fifty day simple moving average is $316.82 and its 200 day simple moving average is $320.36.

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

Hedge Funds Weigh In On Medpace

Several large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in shares of Medpace by 64.9% during 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 grew its position in shares of Medpace by 244.8% during the 1st quarter. Brooklyn Investment Group now owns 100 shares of the company's stock valued at $30,000 after buying an additional 71 shares during the last quarter. Whittier Trust Co. raised its stake in Medpace by 47.3% during the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after acquiring an additional 35 shares during the period. Colonial Trust Co SC raised its stake in 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 acquiring an additional 105 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Medpace in the first quarter worth about $60,000. 77.98% of the stock is currently owned by institutional investors.

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.