Medpace (NASDAQ:MEDP) Sets New 52-Week Low – What’s Next?

Medpace Holdings, Inc. (NASDAQ:MEDP) hit a new 52-week low during trading on Monday . The company traded as low as $274.02 and last traded at $277.05, with a volume of 47865 shares changing hands. The stock had previously closed at $287.11.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MEDP shares. Leerink Partners started coverage on shares of Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price target for the company. Leerink Partnrs raised Medpace to a “hold” rating in a research report on Monday, March 24th. Finally, Robert W. Baird upped their target price on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $376.30.

Medpace Stock Up 1.4 %

The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.81 and a beta of 1.45. The stock’s 50-day moving average price is $331.56 and its 200 day moving average price is $337.32.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. On average, sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

Several institutional investors and hedge funds have recently bought and sold shares of MEDP. Wealth Enhancement Advisory Services LLC increased its position in shares of Medpace by 245.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,371 shares of the company’s stock worth $2,781,000 after purchasing an additional 5,949 shares during the last quarter. Armis Advisers LLC purchased a new stake in Medpace during the 4th quarter worth about $278,000. Ascent Group LLC lifted its stake in Medpace by 16.8% in the fourth quarter. Ascent Group LLC now owns 9,374 shares of the company’s stock worth $3,114,000 after acquiring an additional 1,349 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Medpace during the fourth quarter worth $217,000. Finally, Palisades Investment Partners LLC lifted its holdings in Medpace by 9.2% during the 4th quarter. Palisades Investment Partners LLC now owns 15,919 shares of the company’s stock worth $5,289,000 after buying an additional 1,338 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.