Medpace Holdings, Inc. (NASDAQ:MEDP – Get Free Report) 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.
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.
View Our Latest Analysis on Medpace
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.
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