Medpace (NASDAQ:MEDP) Upgraded by Leerink Partnrs to “Hold” Rating

Leerink Partnrs upgraded shares of Medpace (NASDAQ:MEDP) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other analysts have also issued reports about the company. Robert W. Baird boosted their price objective on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Leerink Partners assumed coverage on shares of Medpace in a research note on Monday. They issued a “market perform” rating and a $330.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Medpace currently has an average rating of “Hold” and an average price target of $376.30.

Medpace Trading Up 2.0 %

Medpace stock opened at $330.59 on Monday. The business’s 50 day simple moving average is $337.29 and its 200 day simple moving average is $339.65. Medpace has a 12 month low of $302.01 and a 12 month high of $459.77. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. As a group, equities research analysts forecast that Medpace will post 12.29 earnings per share for the current fiscal year.

Institutional Trading of Medpace

Several hedge funds have recently made changes to their positions in MEDP. Vanguard Group Inc. increased its stake in Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after acquiring an additional 25,704 shares during the last quarter. Invesco Ltd. raised its holdings in Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after buying an additional 519,186 shares during the period. Wasatch Advisors LP lifted its position in Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after buying an additional 28,161 shares during the last quarter. State Street Corp boosted its stake in Medpace by 7.2% during the third quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after buying an additional 50,312 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock valued at $218,031,000 after acquiring an additional 28,076 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

About Medpace

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.