Medpace Holdings Inc (NASDAQ:MEDP) – KeyCorp upped their Q3 2019 earnings per share (EPS) estimates for shares of Medpace in a report issued on Tuesday, May 28th, Zacks Investment Research reports. KeyCorp analyst D. Hooker now forecasts that the company will post earnings of $0.67 per share for the quarter, up from their prior estimate of $0.66. KeyCorp also issued estimates for Medpace’s Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $2.64 EPS and FY2020 earnings at $2.91 EPS.
A number of other research analysts also recently weighed in on the company. ValuEngine downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Wolfe Research initiated coverage on Medpace in a research note on Tuesday, April 2nd. They set an “outperform” rating on the stock. TheStreet raised Medpace from a “c” rating to a “b-” rating in a research note on Thursday, June 6th. BidaskClub raised Medpace from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, Zacks Investment Research raised Medpace from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Medpace currently has an average rating of “Buy” and a consensus target price of $59.25.
Shares of Medpace stock opened at $55.39 on Friday. Medpace has a one year low of $41.84 and a one year high of $71.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $2.01 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.42.
Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 29th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. Medpace had a return on equity of 17.16% and a net margin of 10.49%. The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $190.16 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Medpace by 82.2% during the fourth quarter. BlackRock Inc. now owns 4,158,359 shares of the company’s stock valued at $220,103,000 after acquiring an additional 1,876,296 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of Medpace by 17.5% during the first quarter. Wasatch Advisors Inc. now owns 1,404,441 shares of the company’s stock valued at $82,820,000 after acquiring an additional 209,449 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Medpace by 130.9% during the fourth quarter. Bank of New York Mellon Corp now owns 753,303 shares of the company’s stock valued at $39,872,000 after acquiring an additional 427,062 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Medpace by 15.6% during the first quarter. Dimensional Fund Advisors LP now owns 585,846 shares of the company’s stock valued at $34,547,000 after acquiring an additional 78,950 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Medpace by 3.9% during the first quarter. Goldman Sachs Group Inc. now owns 453,555 shares of the company’s stock valued at $26,746,000 after purchasing an additional 17,230 shares during the period. 76.70% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Jesse J. Geiger sold 12,000 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $58.20, for a total value of $698,400.00. Following the completion of the sale, the chief financial officer now directly owns 25,037 shares of the company’s stock, valued at $1,457,153.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Stephen P. Ewald sold 7,946 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $57.95, for a total value of $460,470.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,983 shares of company stock valued at $2,661,091. Company insiders own 24.20% of the company’s stock.
About Medpace
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.