Medpace (NASDAQ:MEDP) Sees Strong Trading Volume

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) saw an uptick in trading volume on Wednesday . 230,332 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 251,299 shares.The stock last traded at $333.00 and had previously closed at $355.82.

Wall Street Analyst Weigh In

Several research firms recently commented on MEDP. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. William Blair reissued an “outperform” rating on shares of Medpace in a research note on Wednesday, September 11th. Truist Financial assumed coverage on Medpace in a research report on Thursday, August 1st. They set a “hold” rating and a $415.00 price target on the stock. Robert W. Baird lowered their price objective on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Guggenheim cut their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Medpace currently has a consensus rating of “Moderate Buy” and a consensus target price of $407.75.

Medpace Stock Performance

The company’s 50-day moving average price is $374.47 and its 200 day moving average price is $391.13. The stock has a market capitalization of $10.14 billion, a PE ratio of 33.74, a PEG ratio of 1.88 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same period in the previous year, the firm posted $1.93 EPS. The business’s revenue was up 14.6% on a year-over-year basis. Analysts expect that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Medpace in the 4th quarter worth about $59,163,000. Quest Partners LLC purchased a new position in shares of Medpace during the fourth quarter valued at approximately $191,000. Franklin Resources Inc. boosted its position in shares of Medpace by 4.4% in the 4th quarter. Franklin Resources Inc. now owns 34,895 shares of the company’s stock worth $10,696,000 after purchasing an additional 1,479 shares in the last quarter. US Bancorp DE grew its stake in shares of Medpace by 1.9% in the 4th quarter. US Bancorp DE now owns 5,269 shares of the company’s stock worth $1,615,000 after buying an additional 98 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Medpace in the 4th quarter worth approximately $2,394,000. Institutional investors own 77.98% of the company’s stock.

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.