Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $37.25.
Several equities research analysts recently issued reports on MEDP shares. Zacks Investment Research downgraded Medpace Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. KeyCorp reiterated a “hold” rating on shares of Medpace Holdings in a report on Tuesday, October 17th. Robert W. Baird reiterated a “hold” rating and set a $32.00 price target on shares of Medpace Holdings in a report on Monday, October 9th. 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 report on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. started coverage on Medpace Holdings in a report on Friday, September 29th. They set a “market perform” rating for the company.
In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the company’s 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Medpace Holdings by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after purchasing an additional 191,597 shares during the last quarter. Bernzott Capital Advisors boosted its position in Medpace Holdings by 141.4% in the second quarter. Bernzott Capital Advisors now owns 593,840 shares of the company’s stock worth $17,221,000 after purchasing an additional 347,804 shares during the last quarter. Acadian Asset Management LLC boosted its position in Medpace Holdings by 46.6% in the second quarter. Acadian Asset Management LLC now owns 485,638 shares of the company’s stock worth $14,084,000 after purchasing an additional 154,331 shares during the last quarter. Granite Investment Partners LLC purchased a new position in Medpace Holdings in the second quarter worth $8,118,000. Finally, Redmile Group LLC purchased a new position in Medpace Holdings in the second quarter worth $6,526,000. 16.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Medpace Holdings (NASDAQ MEDP) opened at $37.24 on Monday. The company has a market capitalization of $1,400.45, a P/E ratio of 25.33, a PEG ratio of 1.91 and a beta of -0.34. Medpace Holdings has a 1-year low of $21.76 and a 1-year high of $39.64. The company has a current ratio of 0.68, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36.
Medpace Holdings (NASDAQ:MEDP) last released its quarterly earnings data on Monday, October 30th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Medpace Holdings had a return on equity of 10.00% and a net margin of 6.44%. The firm had revenue of $98.68 million during the quarter, compared to the consensus estimate of $96.84 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. sell-side analysts expect that Medpace Holdings will post 1.5 EPS for the current year.
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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