Medpace Holdings Inc (MEDP) Earns “Hold” Rating from Jefferies Group LLC
Medpace Holdings Inc (NASDAQ:MEDP)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group LLC in a report released on Friday. They presently have a $35.50 target price on the stock. Jefferies Group LLC’s target price suggests a potential upside of 16.55% from the stock’s previous close.
MEDP has been the topic of several other research reports. Zacks Investment Research lowered shares of Medpace Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, January 18th. KeyCorp assumed coverage on shares of Medpace Holdings in a report on Wednesday, March 29th. They issued an “overweight” rating and a $34.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Medpace Holdings has an average rating of “Buy” and an average price target of $34.30.
Medpace Holdings (NASDAQ:MEDP) traded up 0.07% on Friday, reaching $30.46. The company’s stock had a trading volume of 87,323 shares. The firm has a market cap of $1.24 billion and a P/E ratio of 82.32. The firm’s 50 day moving average is $28.61 and its 200-day moving average is $32.50. Medpace Holdings has a 12 month low of $26.01 and a 12 month high of $38.94.
Medpace Holdings (NASDAQ:MEDP) last released its earnings results on Monday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm earned $95.38 million during the quarter, compared to analyst estimates of $94.40 million. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Medpace Holdings will post $1.63 EPS for the current year.
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Several institutional investors have recently made changes to their positions in MEDP. Adage Capital Partners GP L.L.C. bought a new position in shares of Medpace Holdings during the third quarter valued at $20,902,000. Monashee Investment Management LLC bought a new position in shares of Medpace Holdings during the third quarter valued at $4,479,000. Rock Springs Capital Management LP bought a new position in shares of Medpace Holdings during the third quarter valued at $4,031,000. Numeric Investors LLC bought a new position in shares of Medpace Holdings during the fourth quarter valued at $4,845,000. Finally, Sio Capital Management LLC bought a new position in shares of Medpace Holdings during the third quarter valued at $3,465,000. Hedge funds and other institutional investors own 14.45% of the company’s stock.
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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