Zacks Investment Research upgraded shares of Medpace Holdings, Inc. (NASDAQ:MEDP) from a hold rating to a buy rating in a research report sent to investors on Friday, November 3rd. The brokerage currently has $40.00 price objective on the stock.
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 firms have also weighed in on MEDP. Raymond James Financial, Inc. initiated coverage on shares of Medpace Holdings in a research note on Friday, September 29th. They set a market perform rating on the stock. KeyCorp reiterated a hold rating on shares of Medpace Holdings in a research note on Tuesday, October 17th. William Blair lowered shares of Medpace Holdings from an outperform rating to a market perform rating in a research note on Wednesday, November 1st. They noted that the move was a valuation call. Robert W. Baird restated a hold rating and set a $32.00 target price on shares of Medpace Holdings in a research report on Monday, October 9th. Finally, Jefferies Group LLC raised their target price on shares of Medpace Holdings from $34.00 to $38.00 and gave the stock a hold rating in a research report on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $36.60.
Shares of Medpace Holdings (NASDAQ:MEDP) opened at $34.55 on Friday. 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 1-year low of $21.76 and a 1-year high of $39.64. The stock has a market cap of $1,299.29, a PE ratio of 23.50, a P/E/G ratio of 1.77 and a beta of -0.34.
Medpace Holdings (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Medpace Holdings had a net margin of 6.44% and a return on equity of 10.00%. The firm had revenue of $98.68 million during the quarter, compared to analyst estimates of $96.84 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Medpace Holdings’s quarterly revenue was up 4.1% on a year-over-year basis. research analysts expect that Medpace Holdings will post 1.5 EPS for the current fiscal year.
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In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of Medpace Holdings stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total transaction of $60,540,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MEDP. Bank of New York Mellon Corp grew its holdings in Medpace Holdings by 15.1% in the 1st quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock valued at $1,047,000 after buying an additional 4,609 shares during the period. Prudential Financial Inc. purchased a new stake in Medpace Holdings in the 1st quarter valued at about $1,026,000. American International Group Inc. purchased a new stake in Medpace Holdings in the 1st quarter valued at about $145,000. Teachers Advisors LLC grew its holdings in Medpace Holdings by 9.1% in the 1st quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock valued at $814,000 after buying an additional 2,278 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Medpace Holdings by 13.7% in the 1st quarter. TIAA CREF Investment Management LLC now owns 127,562 shares of the company’s stock valued at $3,808,000 after purchasing an additional 15,395 shares in the last quarter. Institutional investors own 17.15% of the company’s stock.
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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