FY2018 EPS Estimates for Medpace Holdings Inc Increased by William Blair (MEDP)
Medpace Holdings Inc (NASDAQ:MEDP) – Equities researchers at William Blair increased their FY2018 earnings estimates for Medpace in a research note issued to investors on Thursday. William Blair analyst J. Kreger now expects that the company will earn $2.01 per share for the year, up from their previous estimate of $1.68. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Medpace’s FY2019 earnings at $2.31 EPS and FY2020 earnings at $2.64 EPS.
Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Medpace had a net margin of 6.44% and a return on equity of 10.00%. The firm had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis.
Shares of Medpace (NASDAQ MEDP) traded up $0.48 during trading on Monday, hitting $37.58. 179,850 shares of the stock were exchanged, compared to its average volume of 353,605. Medpace has a 52-week low of $21.76 and a 52-week high of $39.64. The stock has a market capitalization of $1,410.00 and a P/E ratio of 54.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 0.68.
Several hedge funds have recently bought and sold shares of MEDP. Redmile Group LLC bought a new position in shares of Medpace in the second quarter worth approximately $6,526,000. Ameriprise Financial Inc. bought a new position in shares of Medpace in the second quarter worth approximately $6,402,000. Vanguard Group Inc. increased its position in shares of Medpace by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after purchasing an additional 191,597 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Medpace by 138.2% in the second quarter. Prudential Financial Inc. now owns 81,870 shares of the company’s stock worth $2,374,000 after purchasing an additional 47,500 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Medpace by 652.5% in the second quarter. New York State Common Retirement Fund now owns 42,148 shares of the company’s stock worth $1,222,000 after purchasing an additional 36,547 shares during the last quarter. Institutional investors own 16.80% of the company’s stock.
In related news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total value of $138,736,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 25.80% of the stock is currently owned by corporate insiders.
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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