Medpace (NASDAQ:MEDP) Sets New 12-Month Low – Here’s What Happened

Medpace Holdings, Inc. (NASDAQ:MEDP) 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. The stock had previously closed at $287.11.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Robert W. Baird upped their price objective on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Leerink Partners initiated coverage on Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Medpace presently has a consensus rating of “Hold” and a consensus target price of $376.30.

Medpace Stock Performance

The stock has a fifty day moving average of $331.56 and a 200-day moving average of $337.32. The company has a market cap of $8.87 billion, a PE ratio of 23.13, a PEG ratio of 3.81 and a beta of 1.45.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping 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, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently added to or reduced their stakes in MEDP. Pallas Capital Advisors LLC grew its position in shares of Medpace by 179.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock worth $1,086,000 after buying an additional 2,101 shares during the last quarter. Barclays PLC lifted its stake in shares of Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after buying an additional 8,275 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Medpace by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock valued at $1,738,000 after buying an additional 844 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Medpace by 10.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,118 shares of the company’s stock valued at $14,722,000 after acquiring an additional 4,023 shares during the period. Finally, SYM FINANCIAL Corp acquired a new stake in Medpace during the 4th quarter worth about $320,000. 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.