Medpace (NASDAQ:MEDP) Downgraded to Hold Rating by TD Cowen

Medpace (NASDAQ:MEDP) was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating in a report issued on Monday,Briefing.com Automated Import reports. They presently have a $328.00 target price on the stock. TD Cowen’s price objective points to a potential upside of 10.17% from the company’s previous close.

A number of other research firms also recently issued reports on MEDP. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Truist Financial reduced their price target on shares of Medpace from $347.00 to $333.00 and set a “hold” rating for the company in a research report on Thursday. Mizuho lowered their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Leerink Partners assumed coverage on Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 target price for the company. Finally, Robert W. Baird raised their target price on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $357.50.

Medpace Stock Performance

Shares of Medpace stock opened at $297.72 on Monday. The company has a market capitalization of $9.00 billion, a PE ratio of 23.57, a P/E/G ratio of 3.81 and a beta of 1.46. The company has a 50-day simple moving average of $323.58 and a two-hundred day simple moving average of $334.47. Medpace has a one year low of $272.00 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, February 10th. The company reported $3.67 EPS for the quarter, beating 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%. On average, equities analysts predict that Medpace will post 12.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEDP. R Squared Ltd purchased a new position in shares of Medpace during the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Medpace during the fourth quarter valued at about $31,000. Jones Financial Companies Lllp lifted its holdings in shares of Medpace by 2,750.0% in the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock worth $38,000 after acquiring an additional 110 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Medpace by 27.6% during the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after purchasing an additional 29 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after purchasing an additional 29 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.