Brokerages Expect Medpace Holdings, Inc. (MEDP) Will Announce Earnings of $0.36 Per Share
Wall Street brokerages expect that Medpace Holdings, Inc. (NASDAQ:MEDP) will post earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Medpace Holdings’ earnings. The highest EPS estimate is $0.37 and the lowest is $0.35. Medpace Holdings reported earnings of $0.40 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The company is expected to announce its next earnings results after the market closes on Monday, October 30th.
On average, analysts expect that Medpace Holdings will report full year earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.37 to $1.46. For the next year, analysts expect that the company will post earnings of $1.65 per share, with EPS estimates ranging from $1.56 to $1.68. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Medpace Holdings.
Medpace Holdings (NASDAQ:MEDP) last released its earnings results on Monday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.08. The company had revenue of $94.60 million during the quarter, compared to analyst estimates of $92.71 million. Medpace Holdings had a net margin of 5.37% and a return on equity of 9.32%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS.
A number of research firms recently commented on MEDP. Raymond James Financial, Inc. began coverage on Medpace Holdings in a report on Friday, September 29th. They set a “market perform” rating for the company. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 target price on shares of Medpace Holdings in a report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and set a $31.00 target price (up previously from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Medpace Holdings from a “sell” rating to a “hold” rating and set a $33.00 target price for the company in a report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $34.20.
In other Medpace Holdings news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 25.80% of the company’s stock.
A number of large investors have recently made changes to their positions in MEDP. Bernzott Capital Advisors lifted its holdings in Medpace Holdings by 141.4% in the second quarter. Bernzott Capital Advisors now owns 593,840 shares of the company’s stock valued at $17,221,000 after acquiring an additional 347,804 shares during the period. Granite Investment Partners LLC acquired a new position in Medpace Holdings in the second quarter valued at approximately $8,118,000. Redmile Group LLC acquired a new position in Medpace Holdings in the second quarter valued at approximately $6,526,000. Ameriprise Financial Inc. acquired a new position in Medpace Holdings in the second quarter valued at approximately $6,402,000. Finally, Vanguard Group Inc. lifted its holdings in Medpace Holdings by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock valued at $29,419,000 after acquiring an additional 191,597 shares during the period. 15.98% of the stock is owned by institutional investors.
Medpace Holdings Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Medpace Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.