After this morning's -4.7% drop to $259.48 per share, Medpace might just keep moving past its target price of $269.5. With an average analyst rating of buy, and target prices from $265.0 to $273.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 6.1%, and a short ratio of 4.16. Since 44.49% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 84.4% of Medpace's shares being owned by this investor type.
Institutions Invested in Medpace
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Blackrock Inc. | 8% | 2,479,337 | $643,338,391 |
| 2023-06-30 | Vanguard Group Inc | 8% | 2,462,183 | $638,887,271 |
| 2023-06-30 | Wasatch Advisors LP | 5% | 1,568,901 | $407,098,448 |
| 2023-06-30 | Fuller & Thaler Asset Management Inc. | 3% | 943,270 | $244,759,709 |
| 2023-06-30 | State Street Corporation | 2% | 671,876 | $174,338,391 |
| 2023-09-30 | Riverbridge Partners LLC | 2% | 609,187 | $158,071,849 |
| 2023-09-30 | Boston Trust Walden Corporation | 2% | 539,955 | $140,107,529 |
| 2023-06-30 | Dimensional Fund Advisors LP | 2% | 510,756 | $132,530,972 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 477,746 | $123,965,537 |
| 2023-06-30 | Millennium Management Llc | 1% | 428,777 | $111,259,060 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Medpace.
