Analysts Anticipate Medpace Holdings Inc (MEDP) Will Announce Quarterly Sales of $97.43 Million
Analysts expect that Medpace Holdings Inc (NASDAQ:MEDP) will report sales of $97.43 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Medpace’s earnings. The highest sales estimate is $98.88 million and the lowest is $96.20 million. Medpace posted sales of $108.24 million during the same quarter last year, which indicates a negative year over year growth rate of 10%. The company is scheduled to announce its next earnings results on Monday, February 26th.
On average, analysts expect that Medpace will report full year sales of $97.43 million for the current year, with estimates ranging from $383.20 million to $385.90 million. For the next year, analysts expect that the firm will post sales of $415.53 million per share, with estimates ranging from $407.20 million to $420.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Medpace.
Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $98.68 million during the quarter, compared to analysts’ expectations of $96.84 million. Medpace had a return on equity of 10.00% and a net margin of 6.44%. Medpace’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share.
Several research analysts recently weighed in on MEDP shares. Zacks Investment Research cut Medpace from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group lifted their price target on Medpace from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Robert W. Baird lifted their price target on Medpace from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. William Blair cut Medpace from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, BidaskClub cut Medpace from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.60.
In other news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $30.16, for a total value of $138,736,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 25.80% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of MEDP. First Quadrant L P CA purchased a new stake in shares of Medpace during the third quarter worth approximately $119,000. Susquehanna International Group LLP purchased a new stake in shares of Medpace during the second quarter worth approximately $220,000. Credit Suisse AG purchased a new stake in shares of Medpace during the first quarter worth approximately $231,000. Rhumbline Advisers increased its position in shares of Medpace by 13.3% during the second quarter. Rhumbline Advisers now owns 9,726 shares of the company’s stock worth $282,000 after purchasing an additional 1,140 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Medpace during the second quarter worth approximately $299,000. Institutional investors and hedge funds own 16.80% of the company’s stock.
Medpace (NASDAQ:MEDP) opened at $34.88 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1,310.83, a P/E ratio of 23.73, a P/E/G ratio of 1.79 and a beta of -0.96. Medpace has a 12-month low of $21.76 and a 12-month high of $39.64.
Medpace 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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