Medpace (NASDAQ:MEDP) Stock Price Down 5.2% - What's Next?

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MEDP. Truist Financial dropped their price target on Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a research note on Monday, October 14th. TD Cowen cut their price target on shares of Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. StockNews.com cut shares of Medpace from a "buy" rating to a "hold" rating in a research note on Friday, September 27th. William Blair restated an "outperform" rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, Baird R W downgraded Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $380.00.

Medpace Trading Down 7.2 %

The company's 50-day simple moving average is $342.02 and its 200-day simple moving average is $376.32. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.00 and a beta of 1.37.

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

Institutional Trading of Medpace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in Medpace by 3.1% during the first quarter. ProShare Advisors LLC now owns 3,337 shares of the company's stock worth $1,349,000 after buying an additional 101 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Medpace by 43.4% during the 1st quarter. Blair William & Co. IL now owns 24,851 shares of the company's stock valued at $10,044,000 after purchasing an additional 7,521 shares in the last quarter. M&G Plc acquired a new stake in Medpace during the first quarter worth approximately $9,885,000. Ontario Teachers Pension Plan Board increased its holdings in Medpace by 5.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 19,812 shares of the company's stock worth $8,007,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its stake in Medpace by 0.6% in the first quarter. Summit Creek Advisors LLC now owns 48,856 shares of the company's stock valued at $19,745,000 after buying an additional 299 shares during the period. 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.