MEDP has been the topic of several other reports. Raymond James Financial, Inc. initiated coverage on Medpace Holdings in a report on Friday, September 29th. They set a market perform rating on the stock. Zacks Investment Research raised Medpace Holdings from a hold rating to a strong-buy rating and set a $38.00 price objective on the stock in a research note on Saturday, September 9th. Robert W. Baird reaffirmed a hold rating and issued a $32.00 price objective on shares of Medpace Holdings in a research note on Monday, October 9th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $31.00 price objective (up from $30.00) on shares of Medpace Holdings in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $36.60.
Medpace Holdings (NASDAQ:MEDP) traded down $0.27 on Tuesday, hitting $36.97. The stock had a trading volume of 84,065 shares, compared to its average volume of 106,800. The firm has a market cap of $1,400.46, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.91 and a beta of -0.34. Medpace Holdings has a 12 month low of $21.76 and a 12 month high of $39.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.
Medpace Holdings (NASDAQ:MEDP) last released its earnings results on Monday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $98.68 million for the quarter, compared to analyst estimates of $96.84 million. Medpace Holdings had a return on equity of 10.00% and a net margin of 6.44%. Medpace Holdings’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. equities analysts anticipate that Medpace Holdings will post 1.5 EPS for the current year.
In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 25.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MEDP. Bernzott Capital Advisors raised its position in Medpace Holdings by 141.4% in the second quarter. Bernzott Capital Advisors now owns 593,840 shares of the company’s stock valued at $17,221,000 after purchasing an additional 347,804 shares during the last quarter. Granite Investment Partners LLC bought a new position in Medpace Holdings in the second quarter valued at about $8,118,000. Redmile Group LLC bought a new position in Medpace Holdings in the second quarter valued at about $6,526,000. Ameriprise Financial Inc. bought a new position in Medpace Holdings in the second quarter valued at about $6,402,000. Finally, Vanguard Group Inc. raised its position in Medpace Holdings by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock valued at $29,419,000 after purchasing an additional 191,597 shares during the last quarter. Hedge funds and other institutional investors own 17.15% 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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