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

Medpace Holdings, Inc. (NASDAQ:MEDP) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,460,000 shares, an increase of 16.8% from the February 13th total of 1,250,000 shares. Based on an average trading volume of 292,800 shares, the days-to-cover ratio is presently 5.0 days. Currently, 5.8% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird upped their price target on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $381.44.

Medpace Stock Down 2.4 %

NASDAQ MEDP traded down $7.77 during trading hours on Thursday, hitting $319.70. 101,244 shares of the stock were exchanged, compared to its average volume of 286,848. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47. Medpace has a 12-month low of $302.01 and a 12-month high of $459.77. The stock has a 50-day moving average of $338.95 and a 200 day moving average of $340.25.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. On average, equities research analysts expect that Medpace will post 12.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Medpace by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock valued at $854,087,000 after buying an additional 25,704 shares in the last quarter. Invesco Ltd. increased its holdings in Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after buying an additional 519,186 shares in the last quarter. Wasatch Advisors LP increased its holdings in Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock valued at $311,247,000 after buying an additional 28,161 shares in the last quarter. State Street Corp increased its holdings in Medpace by 7.2% in the third quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after buying an additional 50,312 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock valued at $218,031,000 after buying an additional 28,076 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

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.