$0.36 Earnings Per Share Expected for Medpace Holdings, Inc. (MEDP) This Quarter
Brokerages expect that Medpace Holdings, Inc. (NASDAQ:MEDP) will post earnings of $0.36 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Medpace Holdings’ earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.35. Medpace Holdings reported earnings of $0.40 per share during the same quarter last year, which indicates a negative year over year growth rate of 10%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, October 30th.
According to Zacks, analysts expect that Medpace Holdings will report full-year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from $1.37 to $1.46. For the next year, analysts expect that the firm will report earnings of $1.65 per share, with EPS estimates ranging from $1.56 to $1.68. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Medpace Holdings.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 31st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.08. The business had revenue of $94.60 million during the quarter, compared to the consensus estimate of $92.71 million. Medpace Holdings had a net margin of 5.37% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share.
MEDP has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Medpace Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reissued a “hold” rating and issued a $31.00 price objective (up from $30.00) on shares of Medpace Holdings in a research note on Wednesday, August 2nd. Robert W. Baird reissued a “hold” rating and issued a $32.00 price objective on shares of Medpace Holdings in a research note on Monday, October 9th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Medpace Holdings in a research note on Friday, September 29th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $34.20.
Shares of Medpace Holdings (NASDAQ MEDP) opened at 33.05 on Friday. The firm has a 50-day moving average of $32.30 and a 200 day moving average of $29.60. Medpace Holdings has a 1-year low of $21.76 and a 1-year high of $38.94. The company has a market capitalization of $1.31 billion, a P/E ratio of 58.19 and a beta of -0.85.
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In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $30.27, for a total value of $60,540,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 25.80% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Medpace Holdings by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 28,074 shares of the company’s stock worth $815,000 after acquiring an additional 152 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Medpace Holdings by 1.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 34,690 shares of the company’s stock worth $1,006,000 after acquiring an additional 482 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of 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 acquiring an additional 967 shares during the last quarter. Rhumbline Advisers lifted its holdings in Medpace Holdings by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 9,726 shares of the company’s stock valued at $282,000 after buying an additional 1,140 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Medpace Holdings by 9.1% during the 1st quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock valued at $814,000 after buying an additional 2,278 shares in the last quarter. Hedge funds and other institutional investors own 15.97% of the company’s stock.
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.
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