Equities Analysts Raise Earnings Estimates for Medpace Holdings Inc (NASDAQ:MEDP)
Medpace Holdings Inc (NASDAQ:MEDP) – SunTrust Banks upped their Q3 2019 EPS estimates for shares of Medpace in a research note issued to investors on Tuesday, July 30th, Zacks Investment Research reports…
From the Equity Insider archive. This article dates from Aug 24, 2019 and is preserved as first published.
Medpace Holdings Inc (NASDAQ:MEDP) – SunTrust Banks upped their Q3 2019 EPS estimates for shares of Medpace in a research note issued to investors on Tuesday, July 30th, Zacks Investment Research reports. SunTrust Banks analyst S. Draper now expects that the company will post earnings per share of $0.73 for the quarter, up from their previous estimate of $0.67. SunTrust Banks currently has a “Buy” rating and a $85.00 price target on the stock. SunTrust Banks also issued estimates for Medpace’s Q4 2019 earnings at $0.71 EPS.
A number of other equities research analysts have also recently commented on the stock. Credit Suisse Group raised their target price on shares of Medpace from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a research note on Thursday, June 6th. Robert W. Baird lifted their price objective on shares of Medpace from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Zacks Investment Research raised shares of Medpace from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Wednesday, July 10th. Finally, BidaskClub raised shares of Medpace from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 3rd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $73.75.
NASDAQ MEDP traded down $1.03 on Thursday, reaching $78.91. 240,665 shares of the stock were exchanged, compared to its average volume of 529,126. Medpace has a one year low of $45.88 and a one year high of $82.39. The firm has a market capitalization of $2.87 billion, a PE ratio of 30.47, a PEG ratio of 2.22 and a beta of 1.57. The company’s 50-day simple moving average is $70.97 and its two-hundred day simple moving average is $61.82. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07.
240,665 shares of the stock were exchanged, compared to its average volume of 529,126.
Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.18. Medpace had a net margin of 11.28% and a return on equity of 17.65%. The firm had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $200.99 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of MEDP. Pearl River Capital LLC purchased a new position in Medpace during the second quarter worth $27,000. FTB Advisors Inc. lifted its position in shares of Medpace by 171.8% during the second quarter. FTB Advisors Inc. now owns 579 shares of the company’s stock worth $37,000 after purchasing an additional 366 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Medpace by 53.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 605 shares of the company’s stock worth $40,000 after purchasing an additional 212 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Medpace by 18.7% during the second quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock worth $95,000 after purchasing an additional 230 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Medpace during the first quarter worth $99,000. 81.44% of the stock is owned by institutional investors.
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.
