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

Medpace Holdings, Inc. (NASDAQ:MEDP) 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 traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on MEDP shares. Robert W. Baird upped their price target on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. TD Cowen dropped their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Finally, Truist Financial reduced their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace currently has an average rating of “Hold” and an average target price of $380.56.

Medpace Stock Performance

The company has a market cap of $10.38 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 1.80 and a beta of 1.36. The firm’s 50 day moving average price is $341.36 and its two-hundred day moving average price is $358.26.

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

Hedge Funds Weigh In On Medpace

Several institutional investors have recently added to or reduced their stakes in the stock. Wealth Alliance grew its position in 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. lifted its holdings in Medpace by 2.0% during the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock valued at $505,000 after purchasing an additional 29 shares during the last quarter. Lindenwold Advisors INC lifted its holdings in Medpace by 1.6% during the third quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock valued at $676,000 after purchasing an additional 32 shares during the last quarter. M&T Bank Corp lifted its holdings in Medpace by 1.2% during the third quarter. M&T Bank Corp now owns 3,199 shares of the company’s stock valued at $1,068,000 after purchasing an additional 37 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its stake in Medpace by 1.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 2,376 shares of the company’s stock valued at $793,000 after purchasing an additional 39 shares in the last quarter. 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.