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

Medpace Holdings, Inc. (NASDAQ:MEDP) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 1,240,000 shares, an increase of 32.9% from the September 15th total of 933,100 shares. Based on an average daily volume of 333,100 shares, the short-interest ratio is presently 3.7 days. Approximately 4.9% of the company’s stock are sold short.

Medpace Stock Up 0.9 %

Shares of MEDP stock traded up $3.20 during mid-day trading on Friday, reaching $347.91. The company’s stock had a trading volume of 255,190 shares, compared to its average volume of 264,006. The firm has a market capitalization of $10.78 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The company’s 50 day simple moving average is $359.26 and its 200-day simple moving average is $385.18.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 22nd. The company reported $2.75 EPS 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 firm had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the firm earned $1.93 EPS. Medpace’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, research analysts anticipate that Medpace will post 11.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen decreased their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Truist Financial assumed coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $395.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FORA Capital LLC acquired a new position in shares of Medpace in the first quarter valued at approximately $2,222,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Medpace in the 1st quarter worth about $5,179,000. Norden Group LLC lifted its stake in Medpace by 488.0% during the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after acquiring an additional 24,466 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Medpace by 322.5% during the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock valued at $4,265,000 after purchasing an additional 8,055 shares in the last quarter. Finally, M&G Plc bought a new position in shares of Medpace during the 1st quarter worth approximately $9,885,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

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.