Medpace (NASDAQ:MEDP) Earns Market Perform Rating from William Blair

William Blair reiterated their market perform rating on shares of Medpace (NASDAQ:MEDP - Free Report) in a research report report published on Wednesday,RTT News reports.

Several other analysts also recently commented on MEDP. TD Cowen reiterated a "sell" rating and issued a $366.00 target price (up previously from $283.00) on shares of Medpace in a report on Wednesday. Cowen downgraded Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a report on Wednesday. Mizuho reduced their price objective on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Truist Financial lifted their target price on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $398.91.

Medpace Stock Up 4.2%

MEDP traded up $18.27 during midday trading on Wednesday, hitting $455.68. The company had a trading volume of 908,271 shares, compared to its average volume of 657,253. Medpace has a 52 week low of $250.05 and a 52 week high of $501.30. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 7.96 and a beta of 1.47. The stock's 50 day moving average price is $316.82 and its 200 day moving average price is $320.36.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The company reported $3.10 EPS 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 67.66%. The business had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. During the same quarter in the previous year, the business posted $2.75 EPS. Medpace's quarterly revenue was up 14.2% on a year-over-year basis. Research analysts predict that Medpace will post 12.29 EPS for the current year.

Institutional Investors Weigh In On Medpace

Large investors have recently added to or reduced their stakes in the company. PDS Planning Inc boosted its position in Medpace by 1.5% during the second quarter. PDS Planning Inc now owns 2,421 shares of the company's stock worth $760,000 after purchasing an additional 35 shares during the period. Blue Trust Inc. lifted its stake in shares of Medpace by 10.5% during the 2nd quarter. Blue Trust Inc. now owns 516 shares of the company's stock valued at $162,000 after buying an additional 49 shares in the last quarter. IFP Advisors Inc lifted 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 valued at $61,000 after buying an additional 134 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Medpace in the 2nd quarter worth approximately $337,000. Finally, LGT Fund Management Co Ltd. grew its stake in Medpace by 130.4% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 3,640 shares of the company's stock valued at $1,142,000 after buying an additional 2,060 shares in the last quarter. Hedge funds and other institutional investors 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.