Medpace Holdings, Inc. (NASDAQ:MEDP) Short Interest Update

Medpace Holdings, Inc. (NASDAQ:MEDP) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,240,000 shares, a growth of 32.9% from the September 15th total of 933,100 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average trading volume of 333,100 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Trading of Medpace

A number of hedge funds have recently bought and sold shares of MEDP. Westwind Capital grew its stake in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after buying an additional 338,610 shares during the last quarter. Findlay Park Partners LLP bought a new position in shares of Medpace in the 1st quarter valued at about $90,247,000. Clearbridge Investments LLC increased its holdings in Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after buying an additional 195,698 shares during the last quarter. Vanguard Group Inc. raised its stake in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after buying an additional 142,591 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

MEDP traded up $3.20 during trading hours on Friday, reaching $347.91. 255,190 shares of the stock traded hands, compared to its average volume of 264,006. The firm’s fifty day simple moving average is $359.26 and its two-hundred day simple moving average is $385.18. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same period last year, the business earned $1.93 EPS. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, research analysts predict that Medpace will post 11.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MEDP shares. Truist Financial assumed coverage on Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. Guggenheim cut their price target on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and reduced their target price for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Finally, TD Cowen decreased their price target on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.00.

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.