Medpace (NASDAQ:MEDP) Reaches New 52-Week Low - Here's What Happened

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $250.05 and last traded at $273.53, with a volume of 396087 shares traded. The stock had previously closed at $288.99.

Analysts Set New Price Targets

MEDP has been the subject of a number of research analyst reports. Robert W. Baird cut their price objective on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a report on Wednesday. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Truist Financial lowered their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday. Leerink Partners began coverage on shares of Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 price objective for the company. Finally, Mizuho dropped their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Medpace presently has an average rating of "Hold" and a consensus price target of $349.30.

Medpace Price Performance

The company has a market cap of $9.02 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. The stock has a 50 day simple moving average of $313.79 and a two-hundred day simple moving average of $331.70.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $528.38 million. During the same quarter in the prior year, the company posted $3.20 EPS. As a group, research analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Medpace by 71.9% in the third quarter. Barclays PLC now owns 19,781 shares of the company's stock valued at $6,603,000 after acquiring an additional 8,275 shares during the period. Virtu Financial LLC acquired a new stake in Medpace during the 3rd quarter worth $1,503,000. Wilmington Savings Fund Society FSB purchased a new position in Medpace during the 3rd quarter worth $175,000. Tidal Investments LLC increased its stake in Medpace by 257.9% in the third quarter. Tidal Investments LLC now owns 3,654 shares of the company's stock valued at $1,220,000 after purchasing an additional 2,633 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Medpace by 19.4% in the third quarter. Franklin Resources Inc. now owns 188,141 shares of the company's stock valued at $66,508,000 after buying an additional 30,530 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

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.