Medpace Holdings Inc (NASDAQ:MEDP) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,526,552 shares, a decline of 45.7% from the February 28th total of 2,812,050 shares. Based on an average daily volume of 675,905 shares, the short-interest ratio is presently 2.3 days. Approximately 5.6% of the shares of the company are sold short.
MEDP traded up $0.12 during midday trading on Monday, hitting $58.88. The stock had a trading volume of 266,800 shares, compared to its average volume of 673,758. The firm has a market cap of $2.11 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.91 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.69 and a quick ratio of 0.69. Medpace has a 1 year low of $35.00 and a 1 year high of $71.66.
Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, February 25th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.07. The business had revenue of $192.12 million during the quarter, compared to analyst estimates of $184.66 million. Medpace had a return on equity of 17.66% and a net margin of 11.27%. Medpace’s revenue for the quarter was up 70.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, equities analysts anticipate that Medpace will post 2.64 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in MEDP. LS Investment Advisors LLC bought a new position in shares of Medpace during the fourth quarter valued at approximately $46,000. SHANDA ASSET MANAGEMENT HOLDINGS Ltd bought a new position in shares of Medpace during the fourth quarter valued at approximately $87,000. State of Alaska Department of Revenue bought a new position in shares of Medpace during the fourth quarter valued at approximately $92,000. NumerixS Investment Technologies Inc bought a new position in shares of Medpace during the fourth quarter valued at approximately $119,000. Finally, We Are One Seven LLC bought a new position in shares of Medpace during the fourth quarter valued at approximately $130,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.
MEDP has been the subject of a number of recent analyst reports. BidaskClub lowered Medpace from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 18th. Zacks Investment Research lowered Medpace from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine raised Medpace from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. TheStreet lowered Medpace from a “b” rating to a “c” rating in a report on Friday, March 22nd. Finally, Wolfe Research assumed coverage on Medpace in a report on Tuesday, April 2nd. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $51.50.
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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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