Medpace Holdings, Inc. (MEDP) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Medpace Holdings, Inc. (NASDAQ:MEDP) from a buy rating to a hold rating in a report issued on Tuesday, October 24th.

According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “

A number of other research analysts have also weighed in on MEDP. Raymond James Financial, Inc. assumed coverage on shares of Medpace Holdings in a research note on Friday, September 29th. They issued a market perform rating on the stock. Jefferies Group LLC reissued a hold rating and set a $31.00 price target (up from $30.00) on shares of Medpace Holdings in a research report on Wednesday, August 2nd. Robert W. Baird reissued a hold rating and set a $32.00 price target on shares of Medpace Holdings in a research report on Monday, October 9th. Finally, KeyCorp reissued a hold rating on shares of Medpace Holdings in a research report on Tuesday, October 17th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $36.60.

Medpace Holdings (MEDP) opened at $34.55 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.68. Medpace Holdings has a 12-month low of $21.76 and a 12-month high of $39.64. The stock has a market cap of $1,299.29, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 1.77 and a beta of -0.34.

Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $98.68 million during the quarter, compared to analysts’ expectations of $96.84 million. Medpace Holdings had a net margin of 6.44% and a return on equity of 10.00%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.40 earnings per share. equities research analysts predict that Medpace Holdings will post 1.5 earnings per share for the current year.

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In other Medpace Holdings news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $30.27, for a total transaction of $60,540,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 25.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. First Quadrant L P CA purchased a new stake in shares of Medpace Holdings in the 3rd quarter worth about $119,000. American International Group Inc. purchased a new stake in Medpace Holdings during the 1st quarter valued at about $145,000. Tudor Investment Corp ET AL grew its position in Medpace Holdings by 16.4% during the 1st quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock valued at $205,000 after purchasing an additional 967 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Medpace Holdings during the 2nd quarter valued at about $220,000. Finally, Credit Suisse AG purchased a new stake in Medpace Holdings during the 1st quarter valued at about $231,000. 17.15% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Holdings Company Profile

Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.

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