Analysts Anticipate Medpace Holdings, Inc. (MEDP) Will Announce Earnings of $0.30 Per Share
Equities analysts expect that Medpace Holdings, Inc. (NASDAQ:MEDP) will report $0.30 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Medpace Holdings’ earnings, with estimates ranging from $0.29 to $0.33. The firm is scheduled to announce its next quarterly earnings report on Monday, August 7th.
On average, analysts expect that Medpace Holdings will report full year earnings of $1.35 per share for the current year, with EPS estimates ranging from $1.33 to $1.38. For the next year, analysts expect that the company will report earnings of $1.56 per share, with EPS estimates ranging from $1.54 to $1.57. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Medpace Holdings.
Medpace Holdings (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, May 1st. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by $0.03. The company had revenue of $93.80 million for the quarter, compared to the consensus estimate of $93.61 million. Medpace Holdings’s revenue was up 6.8% on a year-over-year basis.
MEDP has been the subject of several research analyst reports. Zacks Investment Research upgraded Medpace Holdings from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group reiterated an “outperform” rating and issued a $36.00 target price (up previously from $35.00) on shares of Medpace Holdings in a research report on Tuesday, June 6th. ValuEngine lowered Medpace Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Jefferies Group LLC restated a “hold” rating and issued a $25.50 target price (down from $35.50) on shares of Medpace Holdings in a report on Wednesday, May 3rd. Finally, Wells Fargo & Company cut Medpace Holdings from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.50.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL increased its position in Medpace Holdings by 16.4% in the first quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock worth $205,000 after buying an additional 967 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Medpace Holdings by 5.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,922 shares of the company’s stock worth $834,000 after buying an additional 1,368 shares in the last quarter. Teachers Advisors LLC increased its position in Medpace Holdings by 9.1% in the first quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock worth $814,000 after buying an additional 2,278 shares in the last quarter. Bank of New York Mellon Corp increased its position in Medpace Holdings by 15.1% in the first quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock worth $1,047,000 after buying an additional 4,609 shares in the last quarter. Finally, American International Group Inc. purchased a new position in Medpace Holdings during the first quarter worth about $145,000. Hedge funds and other institutional investors own 16.27% of the company’s stock.
Medpace Holdings (NASDAQ:MEDP) traded up 0.83% during midday trading on Thursday, reaching $29.24. 103,670 shares of the company were exchanged. The firm has a market capitalization of $1.19 billion and a PE ratio of 62.08. Medpace Holdings has a 52 week low of $21.76 and a 52 week high of $38.94. The company has a 50-day moving average of $27.71 and a 200 day moving average of $30.66.
Medpace Holdings Company Profile
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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