Robert W. Baird reissued their hold rating on shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in a research note issued to investors on Monday morning. The brokerage currently has a $32.00 target price on the stock.
MEDP has been the topic of several other reports. Zacks Investment Research raised Medpace Holdings from a hold rating to a strong-buy rating and set a $38.00 target price on the stock in a report on Saturday, September 9th. Raymond James Financial, Inc. started coverage on Medpace Holdings in a report on Friday, September 29th. They set a market perform rating on the stock. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $31.00 target price (up from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $34.20.
Medpace Holdings (NASDAQ:MEDP) opened at 33.68 on Monday. Medpace Holdings has a 1-year low of $21.76 and a 1-year high of $38.94. The firm has a 50-day moving average price of $32.26 and a 200 day moving average price of $29.53. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 59.30 and a beta of -0.86.
Medpace Holdings (NASDAQ:MEDP) last announced its earnings results on Monday, July 31st. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.08. The firm had revenue of $94.60 million for the quarter, compared to the consensus estimate of $92.71 million. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. Equities analysts predict that Medpace Holdings will post $1.43 earnings per share for the current year.
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In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 25.80% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new position in shares of Medpace Holdings in the 2nd quarter valued at about $220,000. Redmile Group LLC acquired a new position in shares of Medpace Holdings in the 2nd quarter valued at about $6,526,000. State Street Corp lifted its stake in shares of Medpace Holdings by 4.1% in the 2nd quarter. State Street Corp now owns 132,731 shares of the company’s stock valued at $3,853,000 after purchasing an additional 5,209 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Medpace Holdings by 1.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 34,690 shares of the company’s stock valued at $1,006,000 after purchasing an additional 482 shares during the period. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Medpace Holdings by 81.0% in the 2nd quarter. Tudor Investment Corp ET AL now owns 12,423 shares of the company’s stock valued at $360,000 after purchasing an additional 5,559 shares during the period. 15.98% of the stock is currently owned by institutional investors.
About Medpace Holdings
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support.
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