Medpace (NASDAQ:MEDP) Sets New 1-Year Low - Should You Sell?

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $274.02 and last traded at $277.05, with a volume of 47865 shares traded. The stock had previously closed at $287.11.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MEDP. Leerink Partners initiated coverage on Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price objective for the company. Robert W. Baird upped their price target on shares of Medpace from $354.00 to $362.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Leerink Partnrs raised shares of Medpace to a "hold" rating in a research note on Monday, March 24th. Mizuho cut their target price on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Truist Financial decreased their price target on shares of Medpace from $347.00 to $333.00 and set a "hold" rating on the stock in a research report on Thursday. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $361.90.

Medpace Trading Up 5.5 %

The firm's 50-day simple moving average is $323.58 and its two-hundred day simple moving average is $334.41. The stock has a market capitalization of $9.00 billion, a PE ratio of 23.57, a PEG ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. As a group, research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Institutional Trading of Medpace

Several hedge funds and other institutional investors have recently modified their holdings of the company. Congress Asset Management Co. increased its position in Medpace by 2.4% in the 1st quarter. Congress Asset Management Co. now owns 54,988 shares of the company's stock worth $16,754,000 after purchasing an additional 1,292 shares during the last quarter. Annex Advisory Services LLC increased its holdings in Medpace by 13.8% in the first quarter. Annex Advisory Services LLC now owns 99,190 shares of the company's stock worth $30,222,000 after buying an additional 12,045 shares during the last quarter. Lifestyle Asset Management Inc. increased its holdings in Medpace by 7.1% in the first quarter. Lifestyle Asset Management Inc. now owns 4,197 shares of the company's stock worth $1,279,000 after buying an additional 280 shares during the last quarter. Portside Wealth Group LLC raised its position in Medpace by 14.6% during the first quarter. Portside Wealth Group LLC now owns 903 shares of the company's stock valued at $300,000 after acquiring an additional 115 shares in the last quarter. Finally, HBW Advisory Services LLC lifted its stake in Medpace by 10.7% in the first quarter. HBW Advisory Services LLC now owns 837 shares of the company's stock valued at $255,000 after acquiring an additional 81 shares during the last quarter. 77.98% of the stock is currently 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.