Medpace Holdings, Inc. (NASDAQ:MEDP – Get Free Report) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 1,610,000 shares, a decrease of 22.6% from the June 15th total of 2,080,000 shares. Currently, 6.9% of the shares of the company are sold short. Based on an average daily volume of 378,000 shares, the days-to-cover ratio is currently 4.3 days.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. 22nd Century Group reissued an “upgrade” rating on shares of Medpace in a report on Monday, May 8th. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. Finally, Guggenheim raised shares of Medpace from a “neutral” rating to a “buy” rating and set a $252.00 price target on the stock in a research report on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Medpace currently has a consensus rating of “Moderate Buy” and an average price target of $241.00.
Insider Buying and Selling at Medpace
In other news, CEO August J. Troendle sold 49,347 shares of Medpace stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the sale, the chief executive officer now directly owns 6,233,019 shares in the company, valued at approximately $1,376,562,246.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO August J. Troendle sold 49,347 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the completion of the sale, the chief executive officer now owns 6,233,019 shares in the company, valued at approximately $1,376,562,246.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO August J. Troendle sold 31,648 shares of Medpace stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $221.83, for a total transaction of $7,020,475.84. Following the completion of the sale, the chief executive officer now directly owns 6,451,371 shares in the company, valued at approximately $1,431,107,628.93. The disclosure for this sale can be found here. Corporate insiders own 25.70% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. UBS Group AG boosted its stake in Medpace by 185.1% during the fourth quarter. UBS Group AG now owns 23,896 shares of the company’s stock valued at $5,076,000 after buying an additional 15,513 shares during the period. Gladstone Institutional Advisory LLC bought a new stake in shares of Medpace during the 4th quarter valued at about $302,000. Los Angeles Capital Management LLC grew its holdings in shares of Medpace by 34.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,039 shares of the company’s stock worth $5,106,000 after purchasing an additional 6,125 shares in the last quarter. Laffer Tengler Investments bought a new position in shares of Medpace in the fourth quarter worth approximately $158,000. Finally, Duality Advisers LP purchased a new stake in Medpace in the fourth quarter valued at approximately $2,119,000. 82.14% of the stock is owned by institutional investors.
Medpace Stock Performance
Shares of MEDP opened at $249.47 on Wednesday. Medpace has a 52-week low of $141.30 and a 52-week high of $250.23. The stock’s 50-day simple moving average is $221.53 and its 200 day simple moving average is $210.23. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 31.58 and a beta of 1.43.
Medpace (NASDAQ:MEDP – Get Free Report) last announced its quarterly earnings results on Monday, April 24th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.51. The firm had revenue of $434.07 million for the quarter, compared to the consensus estimate of $402.83 million. Medpace had a net margin of 16.44% and a return on equity of 75.20%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 earnings per share. On average, research analysts forecast that Medpace will post 8.11 earnings per share for the current fiscal year.
About Medpace
Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.