Medpace Holdings Inc (NASDAQ:MEDP) – Equities research analysts at KeyCorp lifted their Q3 2018 earnings per share (EPS) estimates for Medpace in a note issued to investors on Tuesday. KeyCorp analyst D. Hooker now anticipates that the company will post earnings of $0.49 per share for the quarter, up from their previous forecast of $0.48.
A number of other equities analysts have also weighed in on the company. BidaskClub upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Zacks Investment Research upgraded Medpace from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, December 13th. Jefferies Group lifted their price objective on Medpace from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. William Blair lowered 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, Wells Fargo & Co reduced their price objective on Medpace from $38.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.33.
Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, February 26th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $99.45 million during the quarter, compared to analyst estimates of $97.25 million. Medpace had a return on equity of 10.15% and a net margin of 8.97%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS.
In other Medpace news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of Medpace stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $30.16, for a total transaction of $138,736,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 25.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. First Quadrant L P CA acquired a new stake in shares of Medpace during the 3rd quarter valued at about $119,000. MetLife Investment Advisors LLC acquired a new stake in shares of Medpace during the 4th quarter valued at about $137,000. SG Americas Securities LLC acquired a new stake in shares of Medpace during the 4th quarter valued at about $151,000. Atria Investments LLC acquired a new stake in shares of Medpace during the 4th quarter valued at about $211,000. Finally, We Are One Seven LLC acquired a new stake in shares of Medpace during the 4th quarter valued at about $211,000. Hedge funds and other institutional investors own 20.71% of the company’s stock.
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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