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

Medpace Holdings, Inc. (NASDAQ:MEDP) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,240,000 shares, a drop of 15.1% from the February 28th total of 1,460,000 shares. Based on an average daily trading volume, of 308,400 shares, the days-to-cover ratio is currently 4.0 days. Approximately 5.0% of the shares of the stock are short sold.

Medpace Price Performance

Shares of Medpace stock traded up $9.43 on Wednesday, hitting $307.16. 356,776 shares of the company’s stock traded hands, compared to its average volume of 301,947. Medpace has a one year low of $289.01 and a one year high of $459.77. The stock has a market capitalization of $9.36 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47. The firm’s 50-day moving average price is $334.26 and its two-hundred day moving average price is $338.52.

Medpace (NASDAQ:MEDP) last posted its 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 return on equity of 51.48% and a net margin of 19.17%. On average, analysts forecast that Medpace will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Medpace

Several hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of Medpace during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in Medpace during the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp lifted its stake in Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after buying an additional 110 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 29 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.