Credit Suisse Group Increases Medpace (NASDAQ:MEDP) Price Target to $77.00

Medpace (NASDAQ:MEDP) had its price target increased by Credit Suisse Group from $65.00 to $77.00 in a research note published on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Medpace from a strong-buy rating to a buy rating in a research note on Monday, July 8th. TheStreet upgraded shares of Medpace from a c rating to a b- rating in a research note on Thursday, June 6th. Robert W. Baird increased their price objective on shares of Medpace from $57.00 to $62.00 and gave the company a neutral rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded shares of Medpace from a hold rating to a buy rating and set a $71.00 price objective for the company in a research note on Wednesday, July 10th. Finally, Wolfe Research started coverage on shares of Medpace in a research note on Tuesday, April 2nd. They issued an outperform rating for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $73.75.

Shares of MEDP stock opened at $76.48 on Tuesday. Medpace has a 52-week low of $45.88 and a 52-week high of $80.65. The firm has a market cap of $2.83 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.16 and a beta of 1.57. The company has a current ratio of 0.66, a quick ratio of 0.69 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $63.87.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.18. Medpace had a net margin of 11.28% and a return on equity of 17.65%. The company had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $200.99 million. During the same quarter in the prior year, the company posted $0.61 EPS. The business’s revenue was up 25.8% on a year-over-year basis. On average, research analysts forecast that Medpace will post 2.91 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of MEDP. Advisor Group Inc. grew its holdings in shares of Medpace by 18.7% in the 2nd quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock worth $95,000 after purchasing an additional 230 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Medpace in the 1st quarter worth about $99,000. LS Investment Advisors LLC grew its holdings in shares of Medpace by 215.5% in the 1st quarter. LS Investment Advisors LLC now owns 2,745 shares of the company’s stock worth $162,000 after purchasing an additional 1,875 shares during the last quarter. South Dakota Investment Council bought a new stake in shares of Medpace in the 1st quarter worth about $189,000. Finally, Aperio Group LLC bought a new stake in shares of Medpace in the 2nd quarter worth about $214,000. 77.30% of the stock is currently owned by institutional investors and hedge funds.

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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