Medpace Holdings, Inc. (NASDAQ:MEDP) Short Interest Up 32.9% in September

Medpace Holdings, Inc. (NASDAQ:MEDP) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,240,000 shares, a growth of 32.9% from the September 15th total of 933,100 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily volume of 333,100 shares, the days-to-cover ratio is presently 3.7 days.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $353.50 on Tuesday. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 1.77 and a beta of 1.35. The stock has a 50 day moving average price of $358.79 and a 200 day moving average price of $384.70. Medpace has a 52-week low of $227.21 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. Medpace’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 earnings per share. Analysts forecast that Medpace will post 11.64 earnings per share for the current year.

Institutional Trading of Medpace

A number of hedge funds have recently bought and sold shares of the stock. Willis Investment Counsel lifted its holdings in Medpace by 3.9% during the third quarter. Willis Investment Counsel now owns 8,002 shares of the company’s stock worth $2,671,000 after buying an additional 300 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in Medpace by 4.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 4,619 shares of the company’s stock worth $1,542,000 after buying an additional 207 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Medpace by 47.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,981 shares of the company’s stock worth $995,000 after buying an additional 963 shares during the period. Annex Advisory Services LLC lifted its holdings in Medpace by 17.3% during the third quarter. Annex Advisory Services LLC now owns 73,435 shares of the company’s stock worth $24,513,000 after buying an additional 10,813 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Medpace by 191.4% during the third quarter. UMB Bank n.a. now owns 271 shares of the company’s stock worth $90,000 after buying an additional 178 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MEDP shares. Deutsche Bank Aktiengesellschaft reduced their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. TD Cowen reduced their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Truist Financial reduced their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Guggenheim reduced their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Medpace has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.