Medpace Holdings Inc (MEDP) PT Raised to $35.00 at Robert W. Baird
Medpace Holdings Inc (NASDAQ:MEDP) had its target price hoisted by stock analysts at Robert W. Baird from $32.00 to $35.00 in a report released on Tuesday. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential downside of 6.59% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Medpace Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. KeyCorp reiterated a “hold” rating on shares of Medpace Holdings in a research note on Tuesday, October 17th. Jefferies Group LLC reiterated a “hold” rating and set a $31.00 price target (up previously from $30.00) on shares of Medpace Holdings in a research note on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. started coverage on shares of Medpace Holdings in a research note on Friday, September 29th. They set a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $36.20.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. Medpace Holdings had a net margin of 8.89% and a return on equity of 6.80%. The firm had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year.
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In other Medpace Holdings news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of Medpace Holdings stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total transaction of $60,540,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.80% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Medpace Holdings by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock valued at $29,419,000 after buying an additional 191,597 shares during the last quarter. Bernzott Capital Advisors raised its holdings in shares of Medpace Holdings by 141.4% in the second quarter. Bernzott Capital Advisors now owns 593,840 shares of the company’s stock valued at $17,221,000 after buying an additional 347,804 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Medpace Holdings by 46.6% in the second quarter. Acadian Asset Management LLC now owns 485,638 shares of the company’s stock valued at $14,084,000 after buying an additional 154,331 shares during the last quarter. Granite Investment Partners LLC bought a new position in shares of Medpace Holdings in the second quarter valued at about $8,118,000. Finally, Redmile Group LLC bought a new position in shares of Medpace Holdings in the second quarter valued at about $6,526,000. 16.32% of the stock is owned by institutional investors and hedge funds.
About Medpace Holdings
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support.
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