$222.08 Million in Sales Expected for Medpace Holdings Inc (NASDAQ:MEDP) This Quarter

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Wall Street analysts forecast that Medpace Holdings Inc (NASDAQ:MEDP) will announce sales of $222.08 million for the current quarter, Zacks reports. Five analysts have provided estimates for Medpace’s earnings, with the highest sales estimate coming in at $225.30 million and the lowest estimate coming in at $220.41 million. Medpace posted sales of $192.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.6%. The company is expected to report its next quarterly earnings results on Monday, February 24th.

According to Zacks, analysts expect that Medpace will report full-year sales of $853.18 million for the current financial year, with estimates ranging from $851.49 million to $856.40 million. For the next year, analysts forecast that the firm will post sales of $984.70 million, with estimates ranging from $967.50 million to $1.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Medpace.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. Medpace had a return on equity of 17.06% and a net margin of 11.35%. The business had revenue of $216.20 million during the quarter, compared to analysts’ expectations of $217.14 million. During the same period in the previous year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year.

Several research firms have commented on MEDP. Credit Suisse Group increased their price objective on shares of Medpace from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. ValuEngine downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub downgraded shares of Medpace from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, SunTrust Banks raised their price target on shares of Medpace to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Medpace currently has an average rating of “Hold” and an average price target of $77.00.

Shares of MEDP opened at $70.15 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.80 and a quick ratio of 0.80. Medpace has a one year low of $47.20 and a one year high of $86.71. The company has a market cap of $2.72 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.07 and a beta of 1.51. The firm has a 50 day simple moving average of $78.50 and a two-hundred day simple moving average of $69.43.

In related news, CFO Jesse J. Geiger sold 7,200 shares of Medpace stock in a transaction on Monday, October 14th. The shares were sold at an average price of $78.03, for a total value of $561,816.00. Following the transaction, the chief financial officer now owns 40,948 shares in the company, valued at approximately $3,195,172.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Stephen P. Ewald sold 8,000 shares of Medpace stock in a transaction on Friday, October 18th. The stock was sold at an average price of $77.30, for a total transaction of $618,400.00. The disclosure for this sale can be found here. Insiders own 24.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MEDP. Cavalier Investments LLC boosted its stake in shares of Medpace by 106.4% during the 3rd quarter. Cavalier Investments LLC now owns 9,700 shares of the company’s stock valued at $815,000 after purchasing an additional 5,000 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in shares of Medpace during the 3rd quarter valued at about $422,000. Mason Street Advisors LLC boosted its stake in shares of Medpace by 5.5% during the 3rd quarter. Mason Street Advisors LLC now owns 9,212 shares of the company’s stock valued at $774,000 after purchasing an additional 484 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Medpace by 108.6% during the 3rd quarter. SG Americas Securities LLC now owns 29,708 shares of the company’s stock valued at $2,497,000 after purchasing an additional 15,464 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Medpace by 44.9% during the 3rd quarter. First Trust Advisors LP now owns 88,338 shares of the company’s stock valued at $7,424,000 after purchasing an additional 27,365 shares in the last quarter. Hedge funds and other institutional investors own 83.75% 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.

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