Zacks Investment Research upgraded shares of Medpace (NASDAQ:MEDP) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $71.00 target price on the stock.
According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “
MEDP has been the topic of a number of other research reports. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. TheStreet lowered Zumiez from a b rating to a c+ rating in a research report on Thursday, June 6th. Robert W. Baird increased their target price on Shopify from $208.00 to $269.00 and gave the company an outperform rating in a research report on Tuesday, April 30th. Wolfe Research started coverage on Iqvia in a research report on Tuesday, April 2nd. They set a market perform rating on the stock. Finally, BidaskClub lowered Utah Medical Products from a hold rating to a sell rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Medpace currently has an average rating of Buy and an average price target of $61.25.
Shares of NASDAQ:MEDP opened at $62.64 on Wednesday. Medpace has a 1 year low of $43.95 and a 1 year high of $71.66. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The company’s 50 day simple moving average is $59.45.
Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 29th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Medpace had a return on equity of 17.16% and a net margin of 10.49%. The firm had revenue of $200.70 million for the quarter, compared to analyst estimates of $190.16 million. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue was up 23.1% on a year-over-year basis. As a group, analysts forecast that Medpace will post 2.64 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in MEDP. SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new position in shares of Medpace during the 4th quarter worth $87,000. Marshall Wace LLP purchased a new position in shares of Medpace during the 1st quarter worth $99,000. NumerixS Investment Technologies Inc purchased a new position in shares of Medpace during the 4th quarter worth $119,000. LS Investment Advisors LLC raised its holdings in shares of Medpace by 215.5% during the 1st quarter. LS Investment Advisors LLC now owns 2,745 shares of the company’s stock worth $162,000 after acquiring an additional 1,875 shares during the period. Finally, South Dakota Investment Council purchased a new position in shares of Medpace during the 1st quarter worth $189,000. Institutional investors own 76.70% of the company’s stock.
Medpace Company Profile
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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