Medpace Holdings, Inc. (NASDAQ:MEDP) Short Interest Up 24.1% in May

Medpace Holdings, Inc. (NASDAQ:MEDPGet Rating) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,650,000 shares, an increase of 24.1% from the April 30th total of 1,330,000 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average daily trading volume, of 313,600 shares, the days-to-cover ratio is currently 5.3 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schroder Investment Management Group increased its position in Medpace by 53.5% in the 4th quarter. Schroder Investment Management Group now owns 68,498 shares of the company’s stock valued at $14,908,000 after buying an additional 23,885 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Medpace by 12.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 26,830 shares of the company’s stock valued at $5,840,000 after acquiring an additional 2,903 shares during the period. UMB Bank N A MO bought a new stake in Medpace during the 4th quarter valued at $134,000. Renaissance Group LLC increased its holdings in shares of Medpace by 4.5% in the fourth quarter. Renaissance Group LLC now owns 7,157 shares of the company’s stock worth $1,558,000 after purchasing an additional 310 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in shares of Medpace by 126.0% in the third quarter. Clearstead Advisors LLC now owns 339 shares of the company’s stock worth $64,000 after purchasing an additional 189 shares during the period. 79.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ MEDP traded up $0.83 during trading hours on Wednesday, reaching $144.07. 9,493 shares of the stock were exchanged, compared to its average volume of 353,817. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 26.54 and a beta of 1.53. Medpace has a 52 week low of $126.94 and a 52 week high of $231.00. The stock’s fifty day simple moving average is $147.50 and its 200 day simple moving average is $171.21.

Medpace (NASDAQ:MEDPGet Rating) last posted its quarterly earnings data on Monday, April 25th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.43. The firm had revenue of $330.90 million for the quarter, compared to analyst estimates of $327.09 million. Medpace had a return on equity of 24.17% and a net margin of 16.47%. The company’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. On average, research analysts predict that Medpace will post 5.87 EPS for the current fiscal year.

Several research analysts have commented on MEDP shares. Zacks Investment Research raised Medpace from a “hold” rating to a “buy” rating and set a $146.00 price target on the stock in a research report on Friday, April 29th. StockNews.com began coverage on Medpace in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Guggenheim began coverage on Medpace in a research report on Monday, May 23rd. They set a “neutral” rating for the company. Finally, Robert W. Baird upped their price objective on Medpace from $160.00 to $175.00 in a report on Thursday, March 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Medpace currently has an average rating of “Buy” and an average target price of $173.48.

Medpace Company Profile (Get Rating)

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.

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