Medpace Holdings Inc (MEDP) Downgraded by William Blair to Market Perform
William Blair cut shares of Medpace Holdings Inc (NASDAQ:MEDP) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday. William Blair also issued estimates for Medpace Holdings’ Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.43 EPS, FY2017 earnings at $1.50 EPS, Q1 2018 earnings at $0.39 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.68 EPS, FY2018 earnings at $1.67 EPS, Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.50 EPS, FY2019 earnings at $1.93 EPS, FY2019 earnings at $1.94 EPS and FY2020 earnings at $2.23 EPS. The analysts noted that the move was a valuation call.
MEDP has been the topic of a number of other research reports. Raymond James Financial, Inc. assumed coverage on shares of Medpace Holdings in a research note on Friday, September 29th. They set a market perform rating on the stock. KeyCorp reaffirmed a hold rating on shares of Medpace Holdings in a research note on Tuesday, October 17th. Robert W. Baird reaffirmed a hold rating and set a $32.00 price target on shares of Medpace Holdings in a research note on Monday, October 9th. Zacks Investment Research raised shares of Medpace Holdings from a hold rating to a strong-buy rating and set a $38.00 price target on the stock in a research note on Saturday, September 9th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $31.00 price target (up previously from $30.00) on shares of Medpace Holdings in a research note on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Medpace Holdings presently has a consensus rating of Hold and an average price target of $36.20.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The company had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. Medpace Holdings had a net margin of 8.89% and a return on equity of 6.80%. Medpace Holdings’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share.
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In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $30.27, for a total value of $60,540,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 25.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Medpace Holdings by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 28,074 shares of the company’s stock valued at $815,000 after acquiring an additional 152 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Medpace Holdings by 1.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 34,690 shares of the company’s stock valued at $1,006,000 after acquiring an additional 482 shares during the period. Tudor Investment Corp ET AL raised its stake in shares of Medpace Holdings by 16.4% in the 1st quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock valued at $205,000 after acquiring an additional 967 shares during the period. Rhumbline Advisers raised its stake in shares of Medpace Holdings by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 9,726 shares of the company’s stock valued at $282,000 after acquiring an additional 1,140 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Medpace Holdings by 9.1% in the 1st quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock valued at $814,000 after acquiring an additional 2,278 shares during the period. 16.32% of the stock is currently owned by institutional investors and hedge funds.
Medpace Holdings 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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