Shares of Medpace Holdings Inc (NASDAQ:MEDP) hit a new 52-week high and low on Thursday . The company traded as low as $45.48 and last traded at $45.59, with a volume of 12531 shares. The stock had previously closed at $44.06.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. BidaskClub raised shares of Medpace from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 16th. Wells Fargo & Co decreased their price target on shares of Medpace from $38.00 to $35.00 and set a “market perform” rating for the company in a research report on Wednesday, February 28th. Robert W. Baird set a $35.00 price target on shares of Medpace and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Finally, Mitsubishi UFJ Financial Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Medpace in a research report on Friday, April 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.83.
The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.64 and a beta of 0.22.
In other Medpace news, major shareholder Medpace Limited Partnership sold 3,000,000 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $35.49, for a total value of $106,470,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 29.50% of the company’s stock.
Several institutional investors have recently modified their holdings of MEDP. Schwab Charles Investment Management Inc. raised its stake in shares of Medpace by 96.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 58,066 shares of the company’s stock valued at $2,106,000 after purchasing an additional 28,581 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Medpace in the 4th quarter valued at about $151,000. LSV Asset Management acquired a new stake in shares of Medpace in the 4th quarter valued at about $527,000. First Trust Advisors LP acquired a new stake in shares of Medpace in the 4th quarter valued at about $1,545,000. Finally, Wells Fargo & Company MN raised its stake in shares of Medpace by 90.3% in the 4th quarter. Wells Fargo & Company MN now owns 19,703 shares of the company’s stock valued at $714,000 after purchasing an additional 9,349 shares in the last quarter. Institutional investors and hedge funds own 26.83% of the company’s stock.
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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