Zacks Investment Research cut shares of Medpace (NASDAQ:MEDP) from a buy rating to a hold rating in a research note published on Saturday, Zacks.com reports.
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 also recently issued reports about the stock. BidaskClub downgraded shares of Medpace from a strong-buy rating to a buy rating in a report on Friday, October 4th. SunTrust Banks upped their price objective on shares of Medpace to $85.00 and gave the stock a buy rating in a report on Wednesday, July 31st. ValuEngine downgraded shares of Medpace from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Credit Suisse Group increased their price target on shares of Medpace from $65.00 to $77.00 and gave the company an outperform rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $78.00.
Shares of NASDAQ MEDP traded down $0.70 during trading hours on Friday, hitting $78.04. 510,396 shares of the stock were exchanged, compared to its average volume of 494,465. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50 day moving average is $82.02 and its 200 day moving average is $67.32. The firm has a market capitalization of $2.82 billion, a P/E ratio of 30.13, a P/E/G ratio of 2.15 and a beta of 1.55. Medpace has a one year low of $45.88 and a one year high of $86.71.
Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.18. The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $200.99 million. Medpace had a net margin of 11.28% and a return on equity of 17.65%. Medpace’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. Research analysts anticipate that Medpace will post 2.91 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Pearl River Capital LLC acquired a new position in shares of Medpace in the 2nd quarter valued at $27,000. FTB Advisors Inc. raised its stake in shares of Medpace by 171.8% in the 2nd quarter. FTB Advisors Inc. now owns 579 shares of the company’s stock valued at $37,000 after buying an additional 366 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Medpace by 53.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 605 shares of the company’s stock valued at $40,000 after buying an additional 212 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Medpace by 18.7% in the 2nd quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock valued at $95,000 after buying an additional 230 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Medpace in the 1st quarter valued at $99,000. 83.45% of the stock is owned by hedge funds and other institutional investors.
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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