Medpace Holdings Inc (MEDP) Expected to Post Earnings of $0.63 Per Share

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Wall Street analysts expect Medpace Holdings Inc (NASDAQ:MEDP) to announce $0.63 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Medpace’s earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.59. Medpace reported earnings per share of $0.40 during the same quarter last year, which would suggest a positive year-over-year growth rate of 57.5%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, October 29th.

According to Zacks, analysts expect that Medpace will report full-year earnings of $2.44 per share for the current fiscal year, with EPS estimates ranging from $2.36 to $2.48. For the next financial year, analysts forecast that the business will post earnings of $2.85 per share, with EPS estimates ranging from $2.74 to $2.93. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Medpace.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Tuesday, July 31st. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Medpace had a return on equity of 14.22% and a net margin of 10.44%. The company had revenue of $117.80 million for the quarter, compared to analysts’ expectations of $104.97 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year.

A number of research firms have commented on MEDP. SunTrust Banks began coverage on Medpace in a research note on Monday, September 17th. They set a “hold” rating and a $63.00 price target on the stock. BidaskClub upgraded Medpace from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 12th. TheStreet upgraded Medpace from a “c” rating to a “b-” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded Medpace from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research note on Friday, August 3rd. Finally, Credit Suisse Group upped their price target on Medpace from $42.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Medpace presently has an average rating of “Buy” and a consensus price target of $46.57.

NASDAQ:MEDP traded up $1.34 during trading hours on Friday, reaching $54.54. 350,992 shares of the stock were exchanged, compared to its average volume of 428,907. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.32. Medpace has a twelve month low of $31.70 and a twelve month high of $65.09. The stock has a market capitalization 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.

In other news, CEO August J. Troendle sold 731,460 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $59.26, for a total value of $43,346,319.60. Following the sale, the chief executive officer now directly owns 849,621 shares in the company, valued at $50,348,540.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 2,713 shares of the stock in a transaction on Friday, September 21st. The shares were sold at an average price of $58.47, for a total value of $158,629.11. Following the completion of the sale, the insider now owns 9,027,814 shares in the company, valued at $527,856,284.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,907,218 shares of company stock worth $656,554,339. Insiders own 29.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Granite Investment Partners LLC increased its holdings in Medpace by 0.3% in the second quarter. Granite Investment Partners LLC now owns 260,447 shares of the company’s stock valued at $11,199,000 after buying an additional 864 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Medpace by 15.9% in the second quarter. Victory Capital Management Inc. now owns 7,091 shares of the company’s stock valued at $305,000 after buying an additional 974 shares during the last quarter. American International Group Inc. increased its holdings in Medpace by 31.6% in the first quarter. American International Group Inc. now owns 6,022 shares of the company’s stock valued at $210,000 after buying an additional 1,445 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Medpace by 57.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,144 shares of the company’s stock valued at $178,000 after buying an additional 1,507 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Medpace by 26.5% in the first quarter. The Manufacturers Life Insurance Company now owns 7,983 shares of the company’s stock valued at $278,000 after buying an additional 1,673 shares during the last quarter. Institutional investors and hedge funds own 39.28% 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.

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