Medpace (NASDAQ:MEDP) Shares Down 5.2% – Here’s What Happened

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) fell 5.2% on Friday . The stock traded as low as $317.50 and last traded at $317.50. 24,435 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 276,737 shares. The stock had previously closed at $334.84.

Analyst Upgrades and Downgrades

MEDP has been the topic of several research reports. Redburn Atlantic assumed coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and decreased their price target for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Robert W. Baird lowered Medpace from an “outperform” rating to a “neutral” rating and cut their target price for the company from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Guggenheim cut their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Medpace has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Stock Performance

The company has a market cap of $9.94 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 2.00 and a beta of 1.37. The firm’s 50 day moving average price is $342.02 and its two-hundred day moving average price is $376.32.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. Medpace’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 earnings per share. As a group, analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Institutional Trading of Medpace

Several institutional investors have recently added to or reduced their stakes in MEDP. Signaturefd LLC boosted its stake in Medpace by 4.9% during the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after acquiring an additional 26 shares in the last quarter. Wealth Alliance lifted its holdings in shares of Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after buying an additional 27 shares in the last quarter. Centaurus Financial Inc. boosted its position in shares of Medpace by 2.0% during the 3rd quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock valued at $505,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after purchasing an additional 32 shares during the last quarter. Finally, Lindenwold Advisors INC lifted its stake in shares of Medpace by 1.6% during the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock worth $676,000 after acquiring an additional 32 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Company Profile

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.