Robert W. Baird Downgrades Medpace (NASDAQ:MEDP) to Neutral

Medpace (NASDAQ:MEDP) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat.com reports. They presently have a $349.00 price target on the stock, down from their prior price target of $413.00. Robert W. Baird’s price objective would suggest a potential upside of 6.38% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on MEDP. Truist Financial decreased their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Redburn Atlantic started coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Finally, Guggenheim decreased their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Medpace presently has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Trading Down 0.6 %

Shares of Medpace stock opened at $328.08 on Wednesday. The company has a fifty day moving average price of $352.59 and a 200 day moving average price of $381.83. Medpace has a twelve month low of $239.00 and a twelve month high of $459.77. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same period in the prior year, the company earned $2.22 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Analysts forecast that Medpace will post 11.64 earnings per share for the current year.

Institutional Investors Weigh In On Medpace

Several institutional investors and hedge funds have recently bought and sold shares of MEDP. Westwind Capital grew its holdings in shares of Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in shares of Medpace during the 1st quarter worth approximately $90,247,000. Clearbridge Investments LLC raised its position in shares of Medpace by 302.4% during the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after purchasing an additional 195,698 shares during the period. Renaissance Technologies LLC raised its position in shares of Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Medpace by 62.3% during the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after purchasing an additional 119,257 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.