Medpace (NASDAQ:MEDP) Hits New 1-Year Low – Time to Sell?

Medpace Holdings, Inc. (NASDAQ:MEDP) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $289.03 and last traded at $293.87, with a volume of 120127 shares. The stock had previously closed at $312.36.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MEDP. Leerink Partnrs upgraded Medpace to a “hold” rating in a research note on Monday, March 24th. Leerink Partners initiated coverage on shares of Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price target for the company. Finally, Robert W. Baird lifted their price objective 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. Nine 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 stock has a consensus rating of “Hold” and an average target price of $376.30.

Medpace Trading Down 5.1 %

The company has a market cap of $9.03 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 3.81 and a beta of 1.47. The business has a fifty day moving average price of $335.90 and a two-hundred day moving average price of $339.18.

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

Institutional Investors Weigh In On Medpace

A number of hedge funds and other institutional investors have recently made changes to their positions in MEDP. Lindbrook Capital LLC increased its holdings in Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 29 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Medpace by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company’s stock worth $1,789,000 after purchasing an additional 29 shares during the last quarter. Assetmark Inc. increased its stake in shares of Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after purchasing an additional 29 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Medpace by 4.1% during the 4th quarter. Proficio Capital Partners LLC now owns 730 shares of the company’s stock valued at $243,000 after purchasing an additional 29 shares in the last quarter. Finally, Schulhoff & Co. Inc. lifted its stake in shares of Medpace by 1.2% in the 4th quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company’s stock valued at $874,000 after purchasing an additional 30 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

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.