Medpace (NASDAQ:MEDP) Cut to Hold at TD Cowen

TD Cowen cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report released on Monday, MarketBeat Ratings reports. They currently have $328.00 price target on the stock, down from their prior price target of $370.00.

MEDP has been the topic of a number of other reports. Truist Financial decreased their target price on shares of Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Mizuho reduced their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird upped their target price on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Leerink Partners began coverage on Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 price target on the stock. Finally, Leerink Partnrs raised shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Medpace has a consensus rating of “Hold” and an average price target of $357.50.

Medpace Price Performance

NASDAQ MEDP opened at $296.50 on Monday. The stock’s 50 day simple moving average is $320.31 and its 200-day simple moving average is $333.83. The company has a market cap of $8.96 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. Medpace has a 1-year low of $272.00 and a 1-year high of $459.77.

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

Hedge Funds Weigh In On Medpace

Large investors have recently made changes to their positions in the stock. Vista Finance LLC raised its position in Medpace by 6.9% in the first quarter. Vista Finance LLC now owns 1,113 shares of the company’s stock valued at $339,000 after purchasing an additional 72 shares during the period. Marshall Financial Group LLC raised its holdings in shares of Medpace by 13.7% in the 1st quarter. Marshall Financial Group LLC now owns 2,935 shares of the company’s stock valued at $894,000 after buying an additional 354 shares during the period. Abacus FCF Advisors LLC lifted its stake in Medpace by 72.7% during the 1st quarter. Abacus FCF Advisors LLC now owns 16,459 shares of the company’s stock worth $5,015,000 after acquiring an additional 6,931 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company’s stock valued at $94,000 after acquiring an additional 83 shares during the period. Finally, Portside Wealth Group LLC grew its position in Medpace by 17.7% in the 1st quarter. Portside Wealth Group LLC now owns 1,063 shares of the company’s stock valued at $324,000 after acquiring an additional 160 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.