Medpace Holdings (NASDAQ:MEDP)’s share price hit a new 52-week high and low during mid-day trading on Friday . The stock traded as low as $43.01 and last traded at $43.04, with a volume of 9412 shares changing hands. The stock had previously closed at $41.75.
Several equities analysts recently issued reports on MEDP shares. ValuEngine upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Credit Suisse Group restated an “outperform” rating and set a $42.00 price target (up from $41.00) on shares of Medpace in a research note on Tuesday, February 27th. Jefferies Group restated a “hold” rating and set a $35.00 price target on shares of Medpace in a research note on Thursday, March 1st. Mitsubishi UFJ Financial Group restated a “neutral” rating and set a $40.00 price target on shares of Medpace in a research note on Friday, April 20th. Finally, Robert W. Baird set a $35.00 price target on Medpace and gave the company a “hold” rating in a research note on Tuesday, April 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $37.83.
The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.59 and a beta of 0.07.
In other Medpace news, major shareholder Medpace Limited Partnership sold 3,000,000 shares of Medpace stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $35.49, for a total transaction of $106,470,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 29.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Koch Industries Inc. acquired a new stake in Medpace during the fourth quarter valued at approximately $279,000. Quadrature Capital Ltd acquired a new position in shares of Medpace in the 4th quarter worth approximately $443,000. Goldman Sachs Group Inc. boosted its holdings in shares of Medpace by 8.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 48,380 shares of the company’s stock worth $1,754,000 after acquiring an additional 3,761 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Medpace in the 4th quarter worth approximately $765,000. Finally, Monashee Investment Management LLC acquired a new position in shares of Medpace in the 4th quarter worth approximately $7,252,000. 25.48% of the stock is currently owned by institutional investors.
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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