Medpace (NASDAQ:MEDP) Lifted to Strong-Buy at BidaskClub

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BidaskClub upgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other research analysts have also recently commented on MEDP. Zacks Investment Research raised shares of Medpace from a hold rating to a buy rating and set a $71.00 target price for the company in a report on Wednesday, July 10th. ValuEngine raised Medpace from a hold rating to a buy rating in a research note on Tuesday, July 2nd. SunTrust Banks upped their price objective on Medpace to $85.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Credit Suisse Group upped their price objective on Medpace from $65.00 to $77.00 and gave the company an outperform rating in a research note on Tuesday, July 30th. Finally, TheStreet raised Medpace from a c rating to a b- rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Medpace currently has a consensus rating of Buy and a consensus target price of $73.75.

MEDP stock opened at $75.54 on Friday. The company has a market capitalization of $2.75 billion, a PE ratio of 29.17, a P/E/G ratio of 2.10 and a beta of 1.57. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.66 and a quick ratio of 0.69. Medpace has a 12 month low of $45.88 and a 12 month high of $80.65. The business has a 50-day moving average of $65.10.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 29th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.18. The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $200.99 million. Medpace had a net margin of 11.28% and a return on equity of 17.65%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Sell-side analysts forecast that Medpace will post 2.91 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. FTB Advisors Inc. increased its position in Medpace by 171.8% during the 2nd quarter. FTB Advisors Inc. now owns 579 shares of the company’s stock valued at $37,000 after purchasing an additional 366 shares during the period. Advisor Group Inc. increased its position in Medpace by 18.7% during the 2nd quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock valued at $95,000 after purchasing an additional 230 shares during the period. Marshall Wace LLP acquired a new stake in Medpace during the 1st quarter valued at approximately $99,000. LS Investment Advisors LLC increased its position in Medpace by 215.5% during the 1st quarter. LS Investment Advisors LLC now owns 2,745 shares of the company’s stock valued at $162,000 after purchasing an additional 1,875 shares during the period. Finally, South Dakota Investment Council acquired a new stake in Medpace during the 1st quarter valued at approximately $189,000. 77.39% of the stock is owned by institutional investors.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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