Medpace (NASDAQ:MEDP) Hits New 1-Year Low – Here’s What Happened

Medpace Holdings, Inc. (NASDAQ:MEDP)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $274.02 and last traded at $277.05, with a volume of 47865 shares changing hands. The stock had previously closed at $287.11.

Analyst Ratings Changes

MEDP has been the topic of a number of analyst reports. Mizuho decreased their price objective on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday. Leerink Partnrs raised Medpace to a “hold” rating in a research report on Monday, March 24th. Leerink Partners initiated coverage on Medpace in a research report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price objective on the stock. Finally, Robert W. Baird raised their price target on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Medpace has an average rating of “Hold” and an average price target of $368.30.

Medpace Stock Performance

The business has a 50-day moving average price of $327.67 and a 200 day moving average price of $335.73. The stock has a market capitalization of $8.38 billion, a P/E ratio of 21.95, a PEG ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. As a group, research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Institutional Trading of Medpace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Medpace in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Medpace in the fourth quarter worth $31,000. Jones Financial Companies Lllp raised its position in shares of Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after purchasing an additional 110 shares during the period. Lindbrook Capital LLC boosted its holdings in Medpace by 27.6% in the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 29 shares during the period. Finally, Assetmark Inc. raised its stake in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.