Wall Street analysts expect Medpace Holdings Inc (NASDAQ:MEDP) to report earnings of $0.42 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Medpace’s earnings, with estimates ranging from $0.36 to $0.45. Medpace reported earnings per share of $0.38 in the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The company is expected to announce its next quarterly earnings results on Monday, July 30th.
According to Zacks, analysts expect that Medpace will report full year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.81 to $1.95. For the next fiscal year, analysts anticipate that the business will post earnings of $2.14 per share, with EPS estimates ranging from $2.09 to $2.16. Zacks’ EPS averages are an average based on a survey of research analysts that cover Medpace.
Get Medpace alerts:Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, April 30th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.43 by $0.17. The business had revenue of $108.40 million for the quarter, compared to the consensus estimate of $113.12 million. Medpace had a net margin of 10.37% and a return on equity of 12.50%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS.
Several research firms have recently commented on MEDP. Zacks Investment Research downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of Medpace from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Mitsubishi UFJ Financial Group reissued a “neutral” rating and set a $40.00 price target on shares of Medpace in a report on Friday, April 20th. Finally, Robert W. Baird set a $35.00 price target on shares of Medpace and gave the stock a “hold” rating in a report on Tuesday, April 10th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $39.17.
Shares of MEDP stock traded up $0.45 during trading hours on Monday, hitting $44.34. The company’s stock had a trading volume of 116,232 shares, compared to its average volume of 404,919. The company has a market capitalization of $1.56 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.66 and a quick ratio of 0.66. Medpace has a 12-month low of $26.56 and a 12-month high of $45.94.
In related news, major shareholder Medpace Limited Partnership sold 3,000,000 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $41.80, for a total transaction of $125,400,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 29.50% of the company’s stock.
A number of large investors have recently bought and sold shares of MEDP. Schwab Charles Investment Management Inc. raised its position in Medpace by 96.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 58,066 shares of the company’s stock worth $2,106,000 after acquiring an additional 28,581 shares during the period. SG Americas Securities LLC acquired a new position in Medpace during the fourth quarter worth $151,000. First Trust Advisors LP acquired a new position in Medpace during the fourth quarter worth $1,545,000. Wells Fargo & Company MN raised its position in Medpace by 90.3% during the fourth quarter. Wells Fargo & Company MN now owns 19,703 shares of the company’s stock worth $714,000 after acquiring an additional 9,349 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Medpace by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 72,010 shares of the company’s stock worth $2,611,000 after acquiring an additional 10,010 shares during the period. Institutional investors own 26.81% of the company’s stock.
About Medpace
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.
Get a free copy of the Zacks research report on Medpace (MEDP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment