Brokerages expect that Medpace Holdings Inc (NASDAQ:MEDP) will announce sales of $184.86 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Medpace’s earnings. The lowest sales estimate is $183.00 million and the highest is $188.00 million. Medpace reported sales of $112.68 million in the same quarter last year, which indicates a positive year over year growth rate of 64.1%. The business is expected to announce its next earnings results on Monday, February 25th.
According to Zacks, analysts expect that Medpace will report full-year sales of $697.31 million for the current financial year, with estimates ranging from $695.47 million to $700.40 million. For the next financial year, analysts expect that the firm will report sales of $797.65 million, with estimates ranging from $782.70 million to $808.29 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Medpace.
Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. Medpace had a return on equity of 15.86% and a net margin of 10.84%. The business had revenue of $179.00 million for the quarter, compared to analyst estimates of $175.07 million. During the same period last year, the company earned $0.40 EPS. Medpace’s revenue for the quarter was up 44.4% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on MEDP shares. SunTrust Banks started coverage on Medpace in a research report on Monday, September 17th. They issued a “hold” rating and a $63.00 price objective on the stock. BidaskClub upgraded Medpace from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 12th. ValuEngine lowered Medpace from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet upgraded Medpace from a “c” rating to a “b-” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research upgraded Medpace from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Thursday, November 1st. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Medpace presently has an average rating of “Buy” and an average target price of $44.43.
MEDP traded down $1.96 on Friday, hitting $57.71. 610,900 shares of the company were exchanged, compared to its average volume of 451,777. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. Medpace has a 12 month low of $31.75 and a 12 month high of $65.09. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 1.53 and a beta of 1.49.
In other news, major shareholder Medpace Investors, Llc sold 2,713 shares of Medpace stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $58.47, for a total value of $158,629.11. Following the sale, the insider now directly owns 9,027,814 shares in the company, valued at approximately $527,856,284.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 114,983 shares of Medpace stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $59.31, for a total value of $6,819,641.73. Following the completion of the sale, the chief executive officer now owns 351,851 shares in the company, valued at $20,868,282.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 396,559 shares of company stock worth $23,422,389. Corporate insiders own 29.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Medpace in the 2nd quarter valued at approximately $107,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Medpace by 57.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,144 shares of the company’s stock valued at $178,000 after purchasing an additional 1,507 shares during the period. Sei Investments Co. lifted its stake in shares of Medpace by 5,087.5% in the 2nd quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock valued at $196,000 after purchasing an additional 4,477 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Medpace by 270.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,331 shares of the company’s stock valued at $200,000 after purchasing an additional 2,431 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Medpace by 78.6% in the 3rd quarter. Legal & General Group Plc now owns 3,436 shares of the company’s stock valued at $206,000 after purchasing an additional 1,512 shares during the period. Hedge funds and other institutional investors own 67.54% of the company’s stock.
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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