Medpace (NASDAQ:MEDP) Reaches New 12-Month Low – What’s Next?

Medpace Holdings, Inc. (NASDAQ:MEDP) shares reached a new 52-week low during mid-day trading 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on MEDP shares. Leerink Partners began coverage on Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 price objective on the stock. Leerink Partnrs raised shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Finally, Robert W. Baird upped their price objective on shares of Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $376.30.

Medpace Stock Performance

The firm’s 50-day simple moving average is $335.90 and its 200-day simple moving average is $339.18. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47.

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

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently modified their holdings of MEDP. Pallas Capital Advisors LLC lifted its position in shares of Medpace by 179.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock worth $1,086,000 after purchasing an additional 2,101 shares in the last quarter. Barclays PLC increased its stake in shares of Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock valued at $6,603,000 after buying an additional 8,275 shares during the period. Sanctuary Advisors LLC lifted its stake 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 acquiring an additional 844 shares during the period. Janus Henderson Group PLC increased its position in Medpace by 10.0% in the third quarter. Janus Henderson Group PLC now owns 44,118 shares of the company’s stock worth $14,722,000 after purchasing an additional 4,023 shares during the period. Finally, SYM FINANCIAL Corp acquired a new position in shares of Medpace in the 4th quarter valued at $320,000. 77.98% of the stock is owned by institutional investors and hedge funds.

About Medpace

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.