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

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Leerink Partnrs upgraded Medpace to a "hold" rating in a research report on Monday, March 24th. Mizuho lowered their price objective on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird cut their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. Finally, Truist Financial cut their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Medpace has an average rating of "Hold" and an average target price of $349.30.

Medpace Trading Up 2.2 %

Shares of Medpace stock traded up $6.34 on Wednesday, hitting $295.11. 116,674 shares of the company traded hands, compared to its average volume of 344,460. Medpace has a 52 week low of $250.05 and a 52 week high of $459.77. The company has a market cap of $8.48 billion, a PE ratio of 23.37, a PEG ratio of 3.81 and a beta of 1.55. The stock's 50 day moving average price is $308.38 and its 200-day moving average price is $329.37.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same period in the prior year, the company earned $3.20 earnings per share. As a group, research analysts anticipate that Medpace will post 12.29 EPS for the current fiscal year.

Insider Buying and Selling at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 2,998 shares of the company's stock, valued at $904,856.36. This represents a 36.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEDP. Invesco Ltd. grew its holdings in shares of Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after purchasing an additional 519,186 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Medpace by 34,497.4% in the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock valued at $80,575,000 after purchasing an additional 241,827 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Medpace during the 4th quarter worth approximately $78,144,000. Norges Bank purchased a new position in Medpace in the 4th quarter valued at approximately $69,859,000. Finally, GW&K Investment Management LLC grew its stake in shares of Medpace by 93.9% in the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock worth $91,516,000 after acquiring an additional 133,379 shares in the last quarter. 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.