Medpace Holdings Inc (NASDAQ:MEDP) Short Interest Update

Medpace Holdings Inc (NASDAQ:MEDP) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 271,908 shares, a drop of 71.3% from the November 30th total of 946,940 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 575,212 shares, the short-interest ratio is currently 0.5 days.

Medpace (MEDP) opened at $37.10 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1,429.96, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.69 and a beta of -1.04. Medpace has a twelve month low of $21.76 and a twelve month high of $39.64.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Medpace had a return on equity of 10.00% and a net margin of 6.44%. The company had revenue of $98.68 million during the quarter, compared to the consensus estimate of $96.84 million. During the same period in the previous year, the firm posted $0.40 EPS. Medpace’s revenue was up 4.1% on a year-over-year basis. equities research analysts anticipate that Medpace will post 1.5 earnings per share for the current fiscal year.

Several brokerages have issued reports on MEDP. Raymond James Financial assumed coverage on Medpace in a report on Friday, September 29th. They set a “market perform” rating on the stock. BidaskClub raised Medpace from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. KeyCorp reaffirmed a “hold” rating on shares of Medpace in a report on Tuesday, October 17th. Zacks Investment Research lowered Medpace from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, William Blair lowered Medpace from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.60.

In other Medpace news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $30.16, for a total value of $138,736,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Medpace by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock valued at $29,419,000 after buying an additional 191,597 shares during the period. Ameriprise Financial Inc. boosted its position in Medpace by 88.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 416,101 shares of the company’s stock worth $13,266,000 after purchasing an additional 195,284 shares during the period. Granite Investment Partners LLC boosted its position in Medpace by 5.5% during the 3rd quarter. Granite Investment Partners LLC now owns 295,415 shares of the company’s stock worth $9,424,000 after purchasing an additional 15,486 shares during the period. Redmile Group LLC purchased a new stake in Medpace during the 2nd quarter worth $6,526,000. Finally, State Street Corp boosted its position in Medpace by 4.1% during the 2nd quarter. State Street Corp now owns 132,731 shares of the company’s stock worth $3,853,000 after purchasing an additional 5,209 shares during the period. 16.80% of the stock is owned by institutional investors.

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About Medpace

Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.

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