Medpace (NASDAQ:MEDP) Earns Market Perform Rating from Analysts at Leerink Partners

Equities researchers at Leerink Partners began coverage on shares of Medpace (NASDAQ:MEDP) in a report released on Monday,Benzinga reports. The brokerage set a “market perform” rating and a $330.00 price target on the stock. Leerink Partners’ price objective points to a potential upside of 1.78% from the stock’s current price.

Separately, Robert W. Baird raised their price objective on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Medpace presently has an average rating of “Hold” and an average target price of $376.30.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $324.23 on Monday. The stock’s 50-day simple moving average is $337.72 and its 200-day simple moving average is $339.77. The firm has a market capitalization of $9.88 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47. Medpace has a fifty-two week low of $302.01 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. On average, sell-side analysts forecast that Medpace will post 12.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medpace

Hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. raised its holdings in Medpace by 2.0% during the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock worth $505,000 after purchasing an additional 29 shares in the last quarter. Lindbrook Capital LLC increased its position in Medpace by 27.6% during the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after purchasing an additional 29 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of Medpace by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company’s stock worth $1,789,000 after buying an additional 29 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Medpace by 20.1% in the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after buying an additional 29 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in shares of Medpace by 4.1% in the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company’s stock valued at $243,000 after buying an additional 29 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

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.