Medpace (NASDAQ:MEDP) Trading Down 5.2% – Here’s Why

Medpace Holdings, Inc. (NASDAQ:MEDP) shares dropped 5.2% during mid-day trading on Friday . The stock traded as low as $317.50 and last traded at $317.50. Approximately 24,435 shares changed hands during trading, a decline of 91% from the average daily volume of 276,737 shares. The stock had previously closed at $334.84.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MEDP shares. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird cut shares of Medpace from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $413.00 to $349.00 in a report on Wednesday, October 23rd. Finally, TD Cowen reduced their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Medpace has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Stock Performance

The company has a market capitalization of $9.94 billion, a PE ratio of 27.51, a P/E/G ratio of 2.00 and a beta of 1.37. The stock’s 50-day simple moving average is $342.02 and its 200 day simple moving average is $376.32.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. During the same period in the previous year, the company posted $2.22 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Institutional Trading of Medpace

Several large investors have recently bought and sold shares of the company. M&G Plc acquired a new stake in shares of Medpace during the first quarter valued at $9,885,000. Cetera Advisors LLC lifted its stake in shares of Medpace by 162.4% during the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after purchasing an additional 1,614 shares in the last quarter. Natixis acquired a new stake in Medpace during the 1st quarter valued at $727,000. Virtu Financial LLC acquired a new stake in shares of Medpace during the first quarter worth approximately $1,239,000. Finally, CWA Asset Management Group LLC bought a new stake in Medpace in the third quarter valued at about $1,306,000. 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.