Medpace Holdings, Inc. (NASDAQ:MEDP) – Equities researchers at Jefferies Group raised their Q3 2017 earnings per share (EPS) estimates for Medpace Holdings in a research report issued to clients and investors on Tuesday. Jefferies Group analyst D. Windley now anticipates that the company will post earnings of $0.36 per share for the quarter, up from their prior forecast of $0.35. Jefferies Group currently has a “Hold” rating and a $25.50 target price on the stock. Jefferies Group also issued estimates for Medpace Holdings’ FY2017 earnings at $1.42 EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.42 EPS, FY2018 earnings at $1.62 EPS and FY2019 earnings at $1.83 EPS.
MEDP has been the subject of several other reports. Wells Fargo & Company cut Medpace Holdings from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. ValuEngine cut Medpace Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Zacks Investment Research cut Medpace Holdings from a “hold” rating to a “strong sell” rating in a research report on Friday, May 5th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $36.00 price target (up from $35.00) on shares of Medpace Holdings in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Medpace Holdings presently has a consensus rating of “Hold” and a consensus target price of $32.92.
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Medpace Holdings (MEDP) opened at 29.70 on Wednesday. Medpace Holdings has a 12-month low of $21.76 and a 12-month high of $38.94. The company has a 50 day moving average of $28.44 and a 200-day moving average of $29.49. The stock has a market capitalization of $1.21 billion and a price-to-earnings ratio of 63.06.
Medpace Holdings (NASDAQ:MEDP) last posted its earnings results on Monday, July 31st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. Medpace Holdings had a net margin of 5.37% and a return on equity of 9.30%. The firm had revenue of $94.60 million during the quarter, compared to analyst estimates of $92.71 million. During the same period last year, the firm posted $0.45 earnings per share. Medpace Holdings’s revenue for the quarter was up 2.1% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in shares of Medpace Holdings during the first quarter valued at about $9,888,000. Bernzott Capital Advisors bought a new stake in shares of Medpace Holdings during the first quarter valued at about $7,344,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Medpace Holdings by 47.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 452,555 shares of the company’s stock valued at $13,509,000 after buying an additional 144,815 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Medpace Holdings by 12.4% in the first quarter. Vanguard Group Inc. now owns 822,842 shares of the company’s stock valued at $24,562,000 after buying an additional 90,742 shares during the last quarter. Finally, Oxford Asset Management bought a new stake in shares of Medpace Holdings during the first quarter valued at about $2,455,000. Institutional investors own 16.82% of the company’s stock.
About Medpace Holdings
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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