A number of other brokerages have also recently weighed in on MEDP. ValuEngine raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a report on Wednesday, April 10th. Wolfe Research started coverage on shares of Medpace in a report on Tuesday, April 2nd. They issued an “outperform” rating for the company. Robert W. Baird upped their target price on shares of Medpace from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Finally, Zacks Investment Research raised shares of Medpace from a “sell” rating to a “hold” rating and set a $63.00 target price for the company in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Medpace currently has an average rating of “Buy” and a consensus target price of $59.25.
Shares of MEDP opened at $63.20 on Monday. Medpace has a 1-year low of $43.78 and a 1-year high of $71.66. The stock has a market capitalization of $2.31 billion, a PE ratio of 24.40, a PEG ratio of 1.96 and a beta of 1.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average of $59.14.
Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Medpace had a net margin of 10.49% and a return on equity of 17.16%. The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $190.16 million. During the same period in the previous year, the company earned $0.60 earnings per share. Medpace’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, analysts anticipate that Medpace will post 2.64 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Medpace by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 406,004 shares of the company’s stock valued at $23,942,000 after buying an additional 120,340 shares during the last quarter. Norges Bank purchased a new stake in shares of Medpace in the fourth quarter valued at about $8,004,000. Tavio Capital LLC raised its holdings in shares of Medpace by 46.4% in the fourth quarter. Tavio Capital LLC now owns 126,887 shares of the company’s stock valued at $6,716,000 after buying an additional 40,217 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Medpace by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 320,938 shares of the company’s stock valued at $16,986,000 after buying an additional 16,521 shares during the last quarter. Finally, Norris Perne & French LLP MI purchased a new stake in shares of Medpace in the first quarter valued at about $6,470,000. 76.70% of the stock is owned by institutional investors and hedge funds.
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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