This afternoon we watched Medpace drop -9.1% to a price of $323.54 per share. The Large-Cap Biotechnology company is now trading -20.12% below its average target price of $405.03. Analysts have set target prices ranging from $336.0 to $435.0 per share for Medpace, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 4.2%, and a short ratio of 3.49. The company's insiders own 17.8% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 85.7% of Medpace's shares being owned by this investor type.
Institutions Invested in Medpace
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Blackrock Inc. | 8% | 2,578,439 | $834,229,199 |
| 2024-06-30 | Vanguard Group Inc | 8% | 2,527,757 | $817,831,524 |
| 2024-06-30 | Wasatch Advisors LP | 3% | 967,283 | $312,955,133 |
| 2024-06-30 | Invesco Ltd. | 3% | 806,975 | $261,089,018 |
| 2024-06-30 | State Street Corporation | 2% | 702,645 | $227,334,048 |
| 2024-06-30 | Goldman Sachs Group Inc | 2% | 674,557 | $218,246,445 |
| 2024-06-30 | Geode Capital Management, LLC | 2% | 583,683 | $188,845,034 |
| 2024-06-30 | Riverbridge Partners LLC | 2% | 535,996 | $173,416,363 |
| 2024-06-30 | TD Asset Management, Inc | 2% | 511,268 | $165,415,855 |
| 2024-06-30 | BESSEMER GROUP, INCORPORATED | 2% | 484,490 | $156,752,090 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Medpace.
