William Blair Reaffirms “Market Perform” Rating for Medpace (NASDAQ:MEDP)

Medpace (NASDAQ:MEDP)‘s stock had its “market perform” rating restated by investment analysts at William Blair in a research note issued on Tuesday, Marketbeat Ratings reports.

MEDP has been the subject of a number of other reports. Leerink Partnrs raised shares of Medpace to a “hold” rating in a report on Monday, March 24th. Leerink Partners assumed coverage on shares of Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 price target for the company. Mizuho lowered their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and cut their target price for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Finally, Truist Financial lowered their price target on Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $349.30.

Medpace Price Performance

Shares of Medpace stock opened at $291.22 on Tuesday. The company has a market cap of $8.80 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. The firm has a fifty day moving average price of $315.38 and a two-hundred day moving average price of $332.24. Medpace has a fifty-two week low of $250.05 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.61. The company had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same quarter last year, the firm earned $3.20 EPS. Analysts expect that Medpace will post 12.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medpace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Medpace during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in Medpace in the 4th quarter valued at $31,000. Jones Financial Companies Lllp increased its stake in shares of Medpace by 2,750.0% in the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after buying an additional 110 shares during the period. Lindbrook Capital LLC raised its position in shares of Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after acquiring an additional 29 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.