Medpace Holdings, Inc. (NASDAQ:MEDP) Short Interest Down 13.0% in January

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totalling 1,000,000 shares, a decline of 13.0% from the December 31st total of 1,150,000 shares. Currently, 3.9% of the company's stock are sold short. Based on an average daily volume of 308,700 shares, the short-interest ratio is currently 3.2 days.

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently modified their holdings of MEDP. Proficio Capital Partners LLC raised its position in Medpace by 34,497.4% during the 4th quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock valued at $80,575,000 after purchasing an additional 241,827 shares during the last quarter. Iron Triangle Partners LP purchased a new stake in Medpace in the third quarter worth $64,371,000. GW&K Investment Management LLC lifted its position in shares of Medpace by 93.9% in the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock worth $91,516,000 after purchasing an additional 133,379 shares during the period. Wellington Management Group LLP increased its position in shares of Medpace by 36.0% during the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company's stock valued at $138,612,000 after buying an additional 109,886 shares during the period. Finally, DF Dent & Co. Inc. raised its stake in Medpace by 189.9% in the third quarter. DF Dent & Co. Inc. now owns 161,298 shares of the company's stock worth $53,841,000 after buying an additional 105,659 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Price Performance

Medpace stock traded up $8.17 during trading hours on Wednesday, reaching $355.15. The company had a trading volume of 291,196 shares, compared to its average volume of 212,219. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 1.79 and a beta of 1.36. Medpace has a 12-month low of $293.37 and a 12-month high of $459.77. The company has a 50-day moving average price of $342.85 and a 200 day moving average price of $350.27.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial lowered their target price on shares of Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a report on Monday, October 14th. William Blair reissued an "outperform" rating on shares of Medpace in a research report on Tuesday, October 22nd. Redburn Atlantic started coverage on Medpace in a report on Monday, October 14th. They issued a "buy" rating and a $404.00 target price for the company. TD Cowen reduced their price objective on Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Finally, Robert W. Baird lifted their target price on Medpace from $354.00 to $362.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $381.44.

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.