Medpace (NASDAQ:MEDP) Price Target Cut to $355.00 by Analysts at Mizuho

Medpace (NASDAQ:MEDP) had its target price lowered by stock analysts at Mizuho from $400.00 to $355.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 28.05% from the stock’s previous close.

MEDP has been the subject of a number of other reports. Leerink Partnrs upgraded Medpace to a “hold” rating in a report on Monday, March 24th. Leerink Partners assumed coverage on Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price target on the stock. Finally, Robert W. Baird raised their target price on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Medpace currently has a consensus rating of “Hold” and a consensus target price of $368.30.

Medpace Trading Down 4.4 %

NASDAQ:MEDP opened at $277.23 on Wednesday. The company has a 50-day moving average of $327.67 and a 200-day moving average of $335.73. Medpace has a twelve month low of $269.36 and a twelve month high of $459.77. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that Medpace will post 12.29 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Medpace by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after purchasing an additional 25,704 shares in the last quarter. Invesco Ltd. increased its holdings in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after buying an additional 519,186 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Medpace by 3.1% during the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after acquiring an additional 28,161 shares during the period. State Street Corp raised its position in Medpace by 7.2% during the third quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after purchasing an additional 50,312 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Medpace by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock worth $218,031,000 after buying an additional 28,076 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

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.