Jefferies Group Analysts Raise Earnings Estimates for Medpace Holdings Inc (MEDP)
Medpace Holdings Inc (NASDAQ:MEDP) – Jefferies Group upped their FY2017 earnings per share (EPS) estimates for shares of Medpace Holdings in a research note issued on Tuesday. Jefferies Group analyst D. Windley now expects that the company will post earnings per share of $1.50 for the year, up from their previous forecast of $1.44. Jefferies Group currently has a “Hold” rating and a $38.00 target price on the stock. Jefferies Group also issued estimates for Medpace Holdings’ Q4 2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.72 EPS and FY2019 earnings at $1.98 EPS.
Medpace Holdings (NASDAQ:MEDP) last issued its earnings results on Monday, October 30th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Medpace Holdings had a return on equity of 6.80% and a net margin of 8.89%. The firm had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year.
A number of other equities analysts have also recently issued reports on MEDP. Zacks Investment Research upgraded Medpace Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. Raymond James Financial, Inc. assumed coverage on Medpace Holdings in a report on Friday, September 29th. They issued a “market perform” rating for the company. Robert W. Baird restated a “hold” rating and issued a $32.00 price objective on shares of Medpace Holdings in a report on Monday, October 9th. KeyCorp restated a “hold” rating on shares of Medpace Holdings in a report on Tuesday, October 17th. Finally, William Blair cut Medpace Holdings from an “outperform” rating to a “market perform” rating in a report on Wednesday. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.20.
In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of Medpace Holdings stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total transaction of $60,540,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.80% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. First Quadrant L P CA acquired a new stake in Medpace Holdings during the third quarter worth approximately $119,000. American International Group Inc. acquired a new stake in Medpace Holdings during the first quarter worth approximately $145,000. Tudor Investment Corp ET AL lifted its position in Medpace Holdings by 16.4% during the first quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock worth $205,000 after acquiring an additional 967 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Medpace Holdings during the second quarter worth approximately $220,000. Finally, Credit Suisse AG acquired a new stake in Medpace Holdings during the first quarter worth approximately $231,000. Hedge funds and other institutional investors own 16.32% of the company’s stock.
About Medpace Holdings
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.
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.