Medpace (NASDAQ:MEDP) Shares Gap Down - Here's What Happened

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $354.51, but opened at $340.77. Medpace shares last traded at $325.77, with a volume of 146,309 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Baird R W downgraded shares of Medpace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their target price on shares of Medpace from $354.00 to $362.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. William Blair reissued an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. Finally, TD Cowen cut their target price on shares of Medpace from $413.00 to $372.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Seven research 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 a consensus target price of $381.44.

Medpace Trading Down 0.7 %

The stock's 50-day moving average price is $343.70 and its 200-day moving average price is $348.83. The company has a market capitalization of $10.57 billion, a P/E ratio of 29.79, a P/E/G ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly 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 17.66% and a return on equity of 50.87%. Sell-side analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Institutional Trading of Medpace

Several hedge funds have recently bought and sold shares of MEDP. Exchange Traded Concepts LLC lifted its position in Medpace by 47.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,981 shares of the company's stock valued at $995,000 after purchasing an additional 963 shares during the last quarter. Swedbank AB bought a new stake in Medpace in the 3rd quarter valued at about $7,477,000. Vontobel Holding Ltd. raised its position in shares of Medpace by 137.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,424 shares of the company's stock worth $475,000 after buying an additional 824 shares in the last quarter. Rheos Capital Works Inc. raised its position in shares of Medpace by 18.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 29,101 shares of the company's stock worth $9,714,000 after buying an additional 4,500 shares in the last quarter. Finally, nVerses Capital LLC raised its position in shares of Medpace by 50.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the company's stock worth $401,000 after buying an additional 400 shares in the last quarter. 77.98% of the stock is currently owned by 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.