Truist Financial Lowers Medpace (NASDAQ:MEDP) Price Target to $300.00

Medpace (NASDAQ:MEDP) had its price target lowered by equities researchers at Truist Financial from $333.00 to $300.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential downside of 0.95% from the stock’s previous close.

MEDP has been the subject of several other research reports. Mizuho cut their target price on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. TD Cowen lowered shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Robert W. Baird reduced their price objective on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research note on Wednesday. Leerink Partners began coverage on shares of Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price for the company. Finally, William Blair reissued a “market perform” rating on shares of Medpace in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $349.30.

Medpace Stock Up 4.2 %

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

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same period last year, the company posted $3.20 EPS. On average, research analysts expect that Medpace will post 12.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MEDP. Invesco Ltd. increased its position in shares of Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after acquiring an additional 519,186 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Medpace by 34,497.4% in the 4th quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock valued at $80,575,000 after purchasing an additional 241,827 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Medpace in the fourth quarter valued at about $78,144,000. Norges Bank acquired a new position in shares of Medpace during the fourth quarter worth about $69,859,000. Finally, GW&K Investment Management LLC grew its stake in shares of Medpace by 93.9% in the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock valued at $91,516,000 after buying an additional 133,379 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

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.