Analysts Expect Medpace Holdings, Inc. (MEDP) Will Announce Quarterly Sales of $97.43 Million
Equities analysts expect Medpace Holdings, Inc. (NASDAQ:MEDP) to announce sales of $97.43 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Medpace Holdings’ earnings, with the lowest sales estimate coming in at $96.20 million and the highest estimate coming in at $98.88 million. Medpace Holdings reported sales of $108.24 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The business is expected to report its next earnings report on Monday, February 26th.
According to Zacks, analysts expect that Medpace Holdings will report full-year sales of $97.43 million for the current fiscal year, with estimates ranging from $383.20 million to $385.90 million. For the next fiscal year, analysts expect that the company will post sales of $415.53 million per share, with estimates ranging from $407.20 million to $420.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Medpace Holdings.
Medpace Holdings (NASDAQ:MEDP) last released its earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Medpace Holdings had a return on equity of 10.00% and a net margin of 6.44%. The company had revenue of $98.68 million for the quarter, compared to analysts’ expectations of $96.84 million. During the same quarter in the previous year, the business posted $0.40 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis.
A number of equities research analysts have weighed in on MEDP shares. Raymond James Financial, Inc. assumed coverage on Medpace Holdings in a research report on Friday, September 29th. They set a “market perform” rating on the stock. KeyCorp reaffirmed a “hold” rating on shares of Medpace Holdings in a research note on Tuesday, October 17th. William Blair cut Medpace Holdings from an “outperform” rating to a “market perform” rating in a research note on Wednesday. They noted that the move was a valuation call. Zacks Investment Research raised Medpace Holdings from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $32.00 price objective on shares of Medpace Holdings in a research note on Monday, October 9th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $36.60.
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In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 25.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MEDP. First Quadrant L P CA bought a new position in Medpace Holdings in the 3rd quarter worth $119,000. American International Group Inc. bought a new position in Medpace Holdings in the 1st quarter worth $145,000. Tudor Investment Corp ET AL boosted its holdings in Medpace Holdings by 16.4% in the 1st quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock worth $205,000 after buying an additional 967 shares during the period. Susquehanna International Group LLP bought a new position in Medpace Holdings in the 2nd quarter worth $220,000. Finally, Credit Suisse AG bought a new position in Medpace Holdings in the 1st quarter worth $231,000. 16.32% of the stock is currently owned by institutional investors.
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.
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