Medpace (NASDAQ:MEDP) Sets New 1-Year Low – Time to Sell?

Medpace Holdings, Inc. (NASDAQ:MEDP) reached a new 52-week low on Monday . The stock traded as low as $289.03 and last traded at $293.87, with a volume of 120127 shares. The stock had previously closed at $312.36.

Wall Street Analyst Weigh In

MEDP has been the topic of several recent analyst reports. Leerink Partnrs upgraded Medpace to a “hold” rating in a research note on Monday, March 24th. Robert W. Baird lifted their target price on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Leerink Partners initiated coverage on shares of Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target on the stock. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $376.30.

Medpace Price Performance

The stock has a 50-day moving average price of $334.26 and a 200-day moving average price of $338.52. The company has a market capitalization of $9.07 billion, a P/E ratio of 23.57, a P/E/G ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, February 10th. The company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock valued at $854,087,000 after purchasing an additional 25,704 shares during the period. Invesco Ltd. increased its holdings in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after acquiring an additional 519,186 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Medpace by 3.1% during the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after purchasing an additional 28,161 shares during the period. State Street Corp lifted its holdings in shares of Medpace by 7.2% in the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after purchasing an additional 50,312 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Medpace by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock valued at $218,031,000 after purchasing an additional 28,076 shares during the period. 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.