Medpace Holdings Inc (MEDP) Price Target Raised to $38.00 at Jefferies Group LLC
Medpace Holdings Inc (NASDAQ:MEDP) had its target price lifted by Jefferies Group LLC from $34.00 to $38.00 in a report released on Wednesday morning. Jefferies Group LLC currently has a hold rating on the stock. Jefferies Group also issued estimates for Medpace Holdings’ Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.50 EPS, Q1 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.72 EPS and FY2019 earnings at $1.98 EPS.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Medpace Holdings from a hold rating to a sell rating in a report on Wednesday, July 12th. KeyCorp reiterated a hold rating on shares of Medpace Holdings in a report on Tuesday, October 17th. Robert W. Baird reiterated a hold rating and issued a $32.00 price target on shares of Medpace Holdings in a report on Monday, October 9th. William Blair downgraded Medpace Holdings from an outperform rating to a market perform rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. initiated coverage on Medpace Holdings in a report on Friday, September 29th. They issued a market perform rating on the stock. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Medpace Holdings has an average rating of Hold and an average price target of $36.20.
Medpace Holdings (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Medpace Holdings had a return on equity of 6.80% and a net margin of 8.89%. The firm had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis.
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In other Medpace Holdings news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total transaction of $60,540,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 25.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEDP. Bank of New York Mellon Corp increased its holdings in Medpace Holdings by 15.1% during the 1st quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock worth $1,047,000 after purchasing an additional 4,609 shares during the period. Prudential Financial Inc. purchased a new position in Medpace Holdings during the 1st quarter worth $1,026,000. American International Group Inc. purchased a new position in Medpace Holdings during the 1st quarter worth $145,000. Teachers Advisors LLC increased its holdings in Medpace Holdings by 9.1% during the 1st quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock worth $814,000 after purchasing an additional 2,278 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in Medpace Holdings by 13.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 127,562 shares of the company’s stock worth $3,808,000 after purchasing an additional 15,395 shares during the period. Institutional investors own 16.32% of the company’s stock.
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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