Brokerages Set Medpace Holdings Inc (NASDAQ:MEDP) PT at $74.67

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Shares of Medpace Holdings Inc (NASDAQ:MEDP) have been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $74.67.

A number of research analysts have recently weighed in on the company. BidaskClub lowered Medpace from a “strong-buy” rating to a “buy” rating in a report on Friday, October 4th. Zacks Investment Research lowered Medpace from a “buy” rating to a “hold” rating in a report on Saturday. ValuEngine lowered Medpace from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group raised their target price on Medpace from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, SunTrust Banks raised their target price on Medpace to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

Shares of NASDAQ:MEDP opened at $78.74 on Monday. The business’s 50 day simple moving average is $82.11 and its two-hundred day simple moving average is $67.00. The firm has a market cap of $2.83 billion, a P/E ratio of 30.40, a PEG ratio of 2.17 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.66 and a current ratio of 0.66. Medpace has a 52-week low of $45.88 and a 52-week high of $86.71.

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

Several hedge funds have recently bought and sold shares of MEDP. Pearl River Capital LLC bought a new position in shares of Medpace in the second quarter valued at approximately $27,000. FTB Advisors Inc. lifted its holdings in Medpace by 171.8% during the second quarter. FTB Advisors Inc. now owns 579 shares of the company’s stock worth $37,000 after acquiring an additional 366 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Medpace by 53.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 605 shares of the company’s stock worth $40,000 after acquiring an additional 212 shares during the period. Advisor Group Inc. lifted its holdings in Medpace by 18.7% during the second quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock worth $95,000 after acquiring an additional 230 shares during the period. Finally, Marshall Wace LLP bought a new stake in Medpace during the first quarter worth $99,000. Institutional investors own 85.86% of the company’s stock.

About Medpace

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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Brokerages Set Medpace Holdings Inc  PT at $74.67
Brokerages Set Medpace Holdings Inc PT at $74.67


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