Brokerages expect that Medpace Holdings, Inc. (NASDAQ:MEDP) will post $1.07 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Medpace’s earnings, with the lowest EPS estimate coming in at $1.05 and the highest estimate coming in at $1.08. Medpace reported earnings of $1.13 per share during the same quarter last year, which would indicate a negative year over year growth rate of 5.3%. The firm is scheduled to report its next earnings results after the market closes on Monday, October 25th.
According to Zacks, analysts expect that Medpace will report full-year earnings of $4.45 per share for the current financial year, with EPS estimates ranging from $4.42 to $4.47. For the next fiscal year, analysts forecast that the business will post earnings of $5.08 per share, with EPS estimates ranging from $4.99 to $5.21. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Medpace.
Medpace (NASDAQ:MEDP) last released its earnings results on Sunday, July 25th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. The firm had revenue of $278.29 million during the quarter, compared to analyst estimates of $271.20 million. Medpace had a net margin of 17.07% and a return on equity of 21.74%.
MEDP has been the topic of several research reports. Credit Suisse Group boosted their price target on Medpace from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, July 20th. Zacks Investment Research lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 10th. Truist Securities restated a “buy” rating and set a $167.90 price target on shares of Medpace in a research note on Tuesday, July 27th. Finally, Truist increased their price objective on Medpace from $193.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 27th.
In other news, major shareholder Medpace Investors, Llc sold 14,304 shares of Medpace stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $186.29, for a total transaction of $2,664,692.16. Following the transaction, the insider now directly owns 6,002,344 shares of the company’s stock, valued at $1,118,176,663.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO August J. Troendle sold 12,597 shares of the firm’s stock in a transaction dated Friday, July 9th. The stock was sold at an average price of $183.34, for a total value of $2,309,533.98. The disclosure for this sale can be found here. Insiders have sold a total of 224,530 shares of company stock valued at $40,898,190 in the last ninety days. Company insiders own 22.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Dixon Hubard Feinour & Brown Inc. VA raised its stake in Medpace by 1.6% in the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 66,400 shares of the company’s stock valued at $11,728,000 after buying an additional 1,065 shares during the period. Front Row Advisors LLC increased its holdings in shares of Medpace by 7.4% in the second quarter. Front Row Advisors LLC now owns 10,250 shares of the company’s stock valued at $1,809,000 after purchasing an additional 710 shares during the last quarter. Grandeur Peak Global Advisors LLC raised its position in shares of Medpace by 8.3% in the second quarter. Grandeur Peak Global Advisors LLC now owns 35,067 shares of the company’s stock valued at $6,194,000 after purchasing an additional 2,700 shares during the period. Invesco Ltd. lifted its stake in shares of Medpace by 3.1% during the 2nd quarter. Invesco Ltd. now owns 927,491 shares of the company’s stock worth $163,823,000 after buying an additional 28,274 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its holdings in shares of Medpace by 105,633.3% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 12,688 shares of the company’s stock worth $2,241,000 after buying an additional 12,676 shares during the period. Institutional investors and hedge funds own 76.31% of the company’s stock.
NASDAQ MEDP traded down $1.57 during midday trading on Monday, hitting $184.45. The company had a trading volume of 1,719 shares, compared to its average volume of 189,210. The firm has a fifty day simple moving average of $181.60 and a two-hundred day simple moving average of $174.39. Medpace has a fifty-two week low of $105.48 and a fifty-two week high of $198.03. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 39.72 and a beta of 1.33.
Medpace Company Profile
Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.
Featured Article: Initial Coin Offering (ICO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Medpace, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Medpace wasn’t on the list.
While Medpace currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.