Medpace Holdings Inc (MEDP) Expected to Post Quarterly Sales of $97.44 Million

Wall Street analysts forecast that Medpace Holdings Inc (NASDAQ:MEDP) will report $97.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Medpace’s earnings, with the highest sales estimate coming in at $98.96 million and the lowest estimate coming in at $96.16 million. Medpace posted sales of $108.24 million during the same quarter last year, which would indicate a negative year over year growth rate of 10%. The firm is expected to report its next quarterly earnings results on Monday, February 26th.

According to Zacks, analysts expect that Medpace will report full-year sales of $97.44 million for the current year, with estimates ranging from $383.18 million to $385.97 million. For the next financial year, analysts expect that the firm will report sales of $415.81 million per share, with estimates ranging from $407.18 million to $422.49 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Medpace.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Medpace had a net margin of 6.44% and a return on equity of 10.00%. The company had revenue of $98.68 million for the quarter, compared to analyst estimates of $96.84 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis.

Several equities research analysts have commented on the stock. BidaskClub raised shares of Medpace from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. KeyCorp reissued a “hold” rating on shares of Medpace in a research note on Tuesday, October 17th. Zacks Investment Research lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. William Blair lowered shares of Medpace from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Robert W. Baird reissued a “hold” rating and set a $32.00 target price on shares of Medpace in a research note on Monday, October 9th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Medpace has a consensus rating of “Hold” and an average price target of $36.60.

In other news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total transaction of $138,736,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Medpace by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after purchasing an additional 191,597 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in shares of Medpace during the 2nd quarter worth about $325,000. American Century Companies Inc. acquired a new position in shares of Medpace during the 3rd quarter worth about $391,000. Northern Trust Corp raised its position in shares of Medpace by 15.9% during the 2nd quarter. Northern Trust Corp now owns 101,728 shares of the company’s stock worth $2,950,000 after purchasing an additional 13,938 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in shares of Medpace by 5.5% during the 3rd quarter. Granite Investment Partners LLC now owns 295,415 shares of the company’s stock worth $9,424,000 after purchasing an additional 15,486 shares during the last quarter. Hedge funds and other institutional investors own 17.00% of the company’s stock.

Shares of Medpace (MEDP) opened at $37.61 on Wednesday. Medpace has a 1-year low of $21.76 and a 1-year high of $39.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $1,451.76, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.64 and a beta of -1.04.

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About Medpace

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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Earnings History and Estimates for Medpace (NASDAQ:MEDP)

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