Medpace (NASDAQ:MEDP) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of Medpace (NASDAQ:MEDP) from a buy rating to a strong-buy rating in a report released on Saturday morning, BidAskClub reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Medpace from a hold rating to a buy rating and set a $71.00 target price for the company in a research note on Wednesday, July 10th. Credit Suisse Group lifted their target price on shares of Medpace from $65.00 to $77.00 and gave the company an outperform rating in a research note on Tuesday, July 30th. ValuEngine raised shares of Medpace from a hold rating to a buy rating in a research note on Tuesday, July 2nd. Robert W. Baird lifted their target price 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. Finally, TheStreet raised shares of Medpace from a c rating to a b- rating in a research note on Thursday, June 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Medpace has an average rating of Buy and an average target price of $73.75.

Medpace stock traded down $1.96 during midday trading on Friday, reaching $76.48. The stock had a trading volume of 683,089 shares, compared to its average volume of 493,074. The firm has a fifty day moving average of $63.87. Medpace has a twelve month low of $45.88 and a twelve month high of $80.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.69 and a current ratio of 0.66. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.16 and a beta of 1.57.

Medpace (NASDAQ:MEDP) last issued its earnings results 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. The company had revenue of $214.10 million during the quarter, compared to analyst estimates of $200.99 million. Medpace had a net margin of 11.28% and a return on equity of 17.65%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. As a group, research analysts predict that Medpace will post 2.91 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank raised its holdings in shares of Medpace by 9.0% during the 2nd quarter. Swiss National Bank now owns 53,100 shares of the company’s stock valued at $3,474,000 after purchasing an additional 4,400 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Medpace by 212.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,501 shares of the company’s stock valued at $1,603,000 after purchasing an additional 16,667 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Medpace during the 2nd quarter valued at $305,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Medpace by 62.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,000 shares of the company’s stock valued at $1,668,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Medpace during the 2nd quarter valued at $828,000. Institutional investors and hedge funds own 77.30% 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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