Wall Street brokerages forecast that Medpace Holdings Inc (NASDAQ:MEDP) will report sales of $97.44 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Medpace’s earnings, with estimates ranging from $96.16 million to $98.96 million. Medpace posted sales of $108.24 million in the same quarter last year, which would indicate a negative year over year growth rate of 10%. The firm is expected to issue its next quarterly earnings report on Monday, February 26th.

According to Zacks, analysts expect that Medpace will report full-year sales of $97.44 million for the current year, with estimates ranging from $383.18 million to $385.97 million. For the next fiscal year, analysts forecast that the business will report sales of $415.81 million per share, with estimates ranging from $407.18 million to $422.49 million. Zacks’ sales averages are an average based on a survey of research firms that cover Medpace.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 30th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Medpace had a net margin of 6.44% and a return on equity of 10.00%. The company had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year.

Several brokerages have recently commented on MEDP. BidaskClub upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. KeyCorp restated a “hold” rating on shares of Medpace in a research note on Tuesday, October 17th. Zacks Investment Research downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. William Blair downgraded shares of Medpace from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Robert W. Baird restated a “hold” rating and issued a $32.00 target price on shares of Medpace in a research note on Monday, October 9th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Medpace presently has an average rating of “Hold” and a consensus price target of $36.60.

Shares of Medpace (MEDP) opened at $37.61 on Wednesday. Medpace has a 52 week low of $21.76 and a 52 week high of $39.64. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $1,451.76, a price-to-earnings ratio of 26.28, a PEG ratio of 1.64 and a beta of -1.04.

In related news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total transaction of $138,736,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 25.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MEDP. Redmile Group LLC acquired a new position in Medpace during the 2nd quarter worth about $6,526,000. Ameriprise Financial Inc. acquired a new position in Medpace during the 2nd quarter worth about $6,402,000. Vanguard Group Inc. lifted its position in Medpace by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after buying an additional 191,597 shares in the last quarter. Acadian Asset Management LLC lifted its position in Medpace by 6.9% during the 4th quarter. Acadian Asset Management LLC now owns 633,743 shares of the company’s stock worth $22,979,000 after buying an additional 40,944 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Medpace by 652.5% during the 2nd quarter. New York State Common Retirement Fund now owns 42,148 shares of the company’s stock worth $1,222,000 after buying an additional 36,547 shares in the last quarter. Institutional investors and hedge funds own 17.00% of the company’s stock.

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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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Earnings History and Estimates for Medpace (NASDAQ:MEDP)

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