Medpace (NASDAQ:MEDP) Hits New 52-Week Low – Time to Sell?

Medpace Holdings, Inc. (NASDAQ:MEDP)’s share price reached a new 52-week low during 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.

Analyst Upgrades and Downgrades

MEDP has been the subject of a number of research reports. Truist Financial lowered their target price on Medpace from $347.00 to $333.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Mizuho lowered their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Leerink Partners started coverage on Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target on the stock. Robert W. Baird increased their price target on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $357.50.

Medpace Trading Down 5.4 %

The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 3.81 and a beta of 1.46. The firm’s 50-day moving average is $317.57 and its 200-day moving average is $332.88.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.61. The company had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same quarter in the prior year, the business earned $3.20 earnings per share. Analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Medpace

A number of large investors have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Medpace in the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Medpace during the fourth quarter worth about $31,000. Jones Financial Companies Lllp increased its holdings in Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after purchasing an additional 110 shares during the period. Lindbrook Capital LLC increased its holdings in Medpace by 27.6% during the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after purchasing an additional 29 shares during the period. Finally, Assetmark Inc. raised its position in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

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.