Medpace (NASDAQ:MEDP) Sets New 52-Week Low – Should You Sell?

Medpace Holdings, Inc. (NASDAQ:MEDP)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $289.03 and last traded at $293.87, with a volume of 120127 shares changing hands. The stock had previously closed at $312.36.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Leerink Partners began coverage on Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price for the company. Robert W. Baird increased their price objective on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Leerink Partnrs upgraded Medpace to a “hold” rating in a research report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $376.30.

Medpace Price Performance

The stock’s 50 day simple moving average is $334.26 and its two-hundred day simple moving average is $338.52. The stock has a market cap of $9.07 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) 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, analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Institutional Trading of Medpace

A number of hedge funds have recently made changes to their positions in MEDP. R Squared Ltd bought a new stake in shares of Medpace during the 4th quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Medpace in the fourth quarter valued at approximately $31,000. Jones Financial Companies Lllp boosted its stake in shares of Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after buying an additional 110 shares during the period. Lindbrook Capital LLC grew its position in Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 29 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after acquiring an additional 29 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

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.