TD Cowen Cuts Medpace (NASDAQ:MEDP) Price Target to $372.00

Medpace (NASDAQ:MEDP) had its target price cut by TD Cowen from $413.00 to $372.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Robert W. Baird cut shares of Medpace from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $413.00 to $349.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and decreased their target price for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Price Performance

Shares of MEDP opened at $330.07 on Wednesday. The company has a 50-day moving average of $353.71 and a two-hundred day moving average of $382.20. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a one year low of $239.00 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. During the same quarter last year, the business posted $2.22 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Medpace will post 11.64 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Hedge funds have recently bought and sold shares of the business. Westwind Capital boosted its stake in shares of Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares in the last quarter. Findlay Park Partners LLP bought a new stake in Medpace during the first quarter worth approximately $90,247,000. Clearbridge Investments LLC grew its holdings in Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after purchasing an additional 195,698 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after purchasing an additional 122,800 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Medpace by 62.3% in the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after buying an additional 119,257 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

About Medpace

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.