Medpace (NASDAQ:MEDP) Receives New Coverage from Analysts at Redburn Atlantic

by · The Markets Daily

Redburn Atlantic began coverage on shares of Medpace (NASDAQ:MEDP – Free Report) in a report issued on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $404.00 price objective on the stock.

Several other research analysts have also commented on the company. Jefferies Financial Group lowered Medpace from a buy rating to a hold rating and lowered their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Robert W. Baird reduced their price objective on Medpace from $430.00 to $413.00 and set an outperform rating on the stock in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on Medpace from $395.00 to $336.00 and set a hold rating on the stock in a research note on Wednesday, July 24th. TD Cowen reduced their price objective on Medpace from $452.00 to $434.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Finally, Truist Financial started coverage on Medpace in a research note on Thursday, August 1st. They issued a hold rating and a $415.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Medpace presently has an average rating of Moderate Buy and an average price target of $394.00.

Read Our Latest Research Report on Medpace

Medpace Stock Up 1.6 %

MEDP opened at $353.50 on Monday. Medpace has a 52 week low of $227.21 and a 52 week high of $459.77. The business has a fifty day simple moving average of $358.79 and a 200-day simple moving average of $384.70. The firm has a market cap of $10.95 billion, a P/E ratio of 36.03, a P/E/G ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP – Get Free Report) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same period last year, the business posted $1.93 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. Sell-side analysts expect that Medpace will post 11.64 earnings per share for the current year.

Institutional Trading of Medpace

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Willis Investment Counsel raised its stake in Medpace by 3.9% in the third quarter. Willis Investment Counsel now owns 8,002 shares of the company’s stock valued at $2,671,000 after buying an additional 300 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of Medpace by 4.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 4,619 shares of the company’s stock worth $1,542,000 after purchasing an additional 207 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Medpace by 47.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,981 shares of the company’s stock worth $995,000 after purchasing an additional 963 shares in the last quarter. Annex Advisory Services LLC increased its position in shares of Medpace by 17.3% during the third quarter. Annex Advisory Services LLC now owns 73,435 shares of the company’s stock worth $24,513,000 after purchasing an additional 10,813 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Medpace by 191.4% during the third quarter. UMB Bank n.a. now owns 271 shares of the company’s stock worth $90,000 after purchasing an additional 178 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Company Profile

(Get Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and 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 services.

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