Medpace Holdings, Inc. (NASDAQ:MEDP) Short Interest Update

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,030,000 shares, a growth of 46.0% from the March 31st total of 1,390,000 shares. Based on an average trading volume of 481,500 shares, the days-to-cover ratio is presently 4.2 days. Approximately 8.7% of the shares of the company are short sold.

Insider Buying and Selling

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the sale, the director now owns 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 20.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medpace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pallas Capital Advisors LLC lifted its holdings in shares of Medpace by 179.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock worth $1,086,000 after acquiring an additional 2,101 shares during the last quarter. Barclays PLC raised its position in Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company's stock valued at $6,603,000 after purchasing an additional 8,275 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Medpace by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock worth $1,738,000 after purchasing an additional 844 shares during the last quarter. SYM FINANCIAL Corp purchased a new position in shares of Medpace in the 4th quarter worth about $320,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Medpace during the 4th quarter valued at about $9,335,000. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Trading Down 1.5 %

Shares of MEDP traded down $4.62 during mid-day trading on Monday, reaching $300.49. 297,226 shares of the stock traded hands, compared to its average volume of 343,201. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. Medpace has a 1 year low of $250.05 and a 1 year high of $459.77. The firm has a fifty day moving average price of $309.90 and a 200 day moving average price of $330.04.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The business had revenue of $558.57 million during the quarter, compared to analysts' expectations of $528.38 million. During the same period in the previous year, the business earned $3.20 earnings per share. On average, sell-side analysts anticipate that Medpace will post 12.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. William Blair reaffirmed a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Mizuho dropped their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. TD Cowen lowered Medpace from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Truist Financial dropped their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird reduced their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $349.30.

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.