Robert W. Baird Lowers Medpace (NASDAQ:MEDP) Price Target to $313.00

Medpace (NASDAQ:MEDP) had its price objective dropped by equities research analysts at Robert W. Baird from $340.00 to $313.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 3.34% from the company’s previous close.

Several other research analysts have also commented on MEDP. Truist Financial reduced their price objective on shares of Medpace from $347.00 to $333.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Leerink Partners assumed coverage on Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 target price on the stock. TD Cowen cut Medpace from a “buy” rating to a “hold” rating and decreased their price target for the company from $370.00 to $328.00 in a research note on Monday, April 14th. William Blair restated a “market perform” rating on shares of Medpace in a research note on Tuesday. Finally, Mizuho decreased their price objective on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $349.30.

Medpace Stock Performance

NASDAQ MEDP opened at $302.88 on Wednesday. The company has a market cap of $9.16 billion, a PE ratio of 23.98, a P/E/G ratio of 3.81 and a beta of 1.46. The firm’s 50 day moving average price is $314.64 and its 200-day moving average price is $332.04. Medpace has a 52-week low of $250.05 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to analysts’ expectations of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same quarter last year, the firm earned $3.20 EPS. On average, analysts forecast that Medpace will post 12.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC raised its stake in shares of Medpace by 179.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock valued at $1,086,000 after buying an additional 2,101 shares during the last quarter. Barclays PLC grew its holdings in Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after acquiring an additional 8,275 shares during the period. Sanctuary Advisors LLC raised its position in Medpace by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock valued at $1,738,000 after acquiring an additional 844 shares in the last quarter. SYM FINANCIAL Corp acquired a new position in Medpace in the fourth quarter valued at approximately $320,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Medpace in the 4th quarter worth approximately $9,335,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.