Medpace (NASDAQ:MEDP) Shares Gap Down – Time to Sell?

Medpace Holdings, Inc. (NASDAQ:MEDP)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $352.01, but opened at $341.76. Medpace shares last traded at $340.52, with a volume of 56,816 shares.

Analysts Set New Price Targets

MEDP has been the subject of a number of research reports. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Robert W. Baird raised their price objective on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Redburn Atlantic initiated coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price target for the company. Truist Financial lowered their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Finally, TD Cowen reduced their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Performance

The stock has a 50 day moving average of $341.77 and a 200-day moving average of $358.99. The firm has a market capitalization of $10.35 billion, a P/E ratio of 29.16, a PEG ratio of 1.91 and a beta of 1.36.

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

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Alliance increased its position in shares of Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after buying an additional 27 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Medpace by 2.0% during the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock worth $505,000 after purchasing an additional 29 shares in the last quarter. Lindenwold Advisors INC grew its holdings in shares of Medpace by 1.6% during the third quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock worth $676,000 after purchasing an additional 32 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Medpace by 1.2% during the third quarter. M&T Bank Corp now owns 3,199 shares of the company’s stock worth $1,068,000 after purchasing an additional 37 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of Medpace by 1.7% during the third quarter. Nations Financial Group Inc. IA ADV now owns 2,376 shares of the company’s stock worth $793,000 after purchasing an additional 39 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.

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.