Zacks Investment Research cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a report issued on Wednesday.
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. “
Other analysts have also recently issued research reports about the stock. Credit Suisse Group restated an outperform rating and issued a $42.00 target price (up previously from $41.00) on shares of Medpace in a research note on Tuesday, February 27th. BidaskClub upgraded shares of Medpace from a hold rating to a buy rating in a research note on Thursday, December 14th. Jefferies Group restated a hold rating and issued a $35.00 target price on shares of Medpace in a research note on Thursday, March 1st. Finally, Wells Fargo & Co reduced their target price on shares of Medpace from $38.00 to $35.00 and set a market perform rating for the company in a research note on Wednesday, February 28th. Eight research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $36.83.
Shares of Medpace (NASDAQ:MEDP) opened at $35.95 on Wednesday. Medpace has a 52 week low of $21.76 and a 52 week high of $39.64. The firm has a market cap of $1,262.55, a price-to-earnings ratio of 36.68, a P/E/G ratio of 1.46 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.67.
Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 26th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Medpace had a net margin of 8.97% and a return on equity of 10.55%. The company had revenue of $99.45 million during the quarter, compared to analysts’ expectations of $97.25 million. During the same quarter last year, the business earned $0.35 EPS. The business’s revenue was up 4.3% on a year-over-year basis. analysts forecast that Medpace will post 1.88 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Alpha Windward LLC purchased a new position in shares of Medpace in the 4th quarter valued at about $513,000. Parametric Portfolio Associates LLC purchased a new position in shares of Medpace in the 2nd quarter valued at about $325,000. American Century Companies Inc. purchased a new position in shares of Medpace in the 3rd quarter valued at about $391,000. Northern Trust Corp increased its holdings in shares of Medpace by 15.9% in the 2nd quarter. Northern Trust Corp now owns 101,728 shares of the company’s stock valued at $2,950,000 after purchasing an additional 13,938 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Medpace by 86.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 38,855 shares of the company’s stock valued at $1,239,000 after purchasing an additional 17,983 shares in the last quarter. Institutional investors and hedge funds own 23.60% of the company’s stock.
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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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