Analysts predict that Medpace Holdings Inc (NASDAQ:MEDP) will report earnings of $0.63 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Medpace’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.59. Medpace reported earnings per share of $0.40 in the same quarter last year, which would suggest a positive year-over-year growth rate of 57.5%. The company is expected to issue its next earnings report after the market closes on Monday, October 29th.
On average, analysts expect that Medpace will report full-year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.36 to $2.48. For the next financial year, analysts anticipate that the firm will report earnings of $2.85 per share, with EPS estimates ranging from $2.74 to $2.93. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Medpace.
Medpace (NASDAQ:MEDP) last posted its earnings results on Tuesday, July 31st. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. Medpace had a net margin of 10.44% and a return on equity of 14.22%. The firm had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $104.97 million. During the same quarter in the prior year, the firm earned $0.38 EPS. Medpace’s quarterly revenue was up 24.5% on a year-over-year basis.
Several research analysts have commented on the stock. BidaskClub cut shares of Medpace from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, July 3rd. SunTrust Banks initiated coverage on shares of Medpace in a research note on Monday, September 17th. They issued a “hold” rating and a $63.00 price target for the company. Credit Suisse Group upped their price target on shares of Medpace from $42.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. Finally, William Blair raised shares of Medpace from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 31st. Six analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $46.57.
In other news, CEO August J. Troendle sold 731,460 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $59.26, for a total value of $43,346,319.60. Following the completion of the sale, the chief executive officer now directly owns 849,621 shares of the company’s stock, valued at approximately $50,348,540.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Medpace Limited Partnership sold 5,224,997 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $54.75, for a total transaction of $286,068,585.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,907,218 shares of company stock valued at $656,554,339. Company insiders own 29.50% of the company’s stock.
Several large investors have recently modified their holdings of MEDP. Laurion Capital Management LP acquired a new stake in shares of Medpace in the 2nd quarter worth approximately $29,230,000. BlackRock Inc. lifted its stake in Medpace by 32.4% during the second quarter. BlackRock Inc. now owns 1,605,667 shares of the company’s stock valued at $69,043,000 after purchasing an additional 392,792 shares during the last quarter. UBS Group AG lifted its stake in Medpace by 2,869.7% during the first quarter. UBS Group AG now owns 323,307 shares of the company’s stock valued at $11,286,000 after purchasing an additional 312,420 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Medpace by 28.2% during the second quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock valued at $55,106,000 after purchasing an additional 282,216 shares during the last quarter. Finally, Chartwell Investment Partners LLC acquired a new stake in Medpace during the second quarter valued at approximately $11,190,000. 39.28% of the stock is owned by institutional investors.
NASDAQ MEDP traded up $1.34 on Friday, hitting $54.54. The stock had a trading volume of 350,992 shares, compared to its average volume of 428,907. Medpace has a one year low of $31.70 and a one year high of $65.09. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03.
Medpace Company Profile
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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