Medpace (NASDAQ:MEDP) Hits New 12-Month High on Analyst Upgrade

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $328.00 to $510.00. Mizuho currently has an outperform rating on the stock. Medpace traded as high as $501.30 and last traded at $477.73, with a volume of 4472123 shares. The stock had previously closed at $308.88.

Several other research analysts also recently issued reports on the stock. Barclays boosted their price objective on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a report on Wednesday. Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday. TD Cowen restated a "sell" rating and issued a $366.00 price objective (up previously from $283.00) on shares of Medpace in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, William Blair restated a "market perform" rating on shares of Medpace in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Medpace currently has a consensus rating of "Hold" and a consensus target price of $411.10.

Institutional Trading of Medpace

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

Medpace Trading Down 1.8%

The stock has a market capitalization of $12.86 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 7.96 and a beta of 1.47. The firm has a 50-day moving average price of $316.82 and a 200-day moving average price of $320.36.

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

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.