Robert W. Baird Lowers Medpace (NASDAQ:MEDP) Price Target to $313.00

Medpace (NASDAQ:MEDP - Free Report) had its target price reduced by Robert W. Baird from $340.00 to $313.00 in a report issued on Wednesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. TD Cowen cut Medpace from a "buy" rating to a "hold" rating and reduced their price target for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Mizuho reduced their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Leerink Partners started coverage on Medpace in a research report on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price for the company. Finally, Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $349.30.

Medpace Price Performance

NASDAQ:MEDP traded down $2.00 during mid-day trading on Wednesday, hitting $296.55. 141,157 shares of the company's stock were exchanged, compared to its average volume of 339,171. Medpace has a one year low of $250.05 and a one year high of $459.77. The business has a fifty day moving average price of $313.79 and a 200 day moving average price of $331.60. The company has a market cap of $8.52 billion, a PE ratio of 23.48, a P/E/G ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The firm had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. During the same quarter in the prior year, the company posted $3.20 earnings per share. On average, equities analysts forecast that Medpace will post 12.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Medpace during the 4th quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in Medpace during the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp raised its position in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after acquiring an additional 110 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock worth $45,000 after purchasing an additional 29 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after buying an additional 29 shares during the period. 77.98% of the stock is currently owned by institutional investors.

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.