SunTrust Banks Equities Analysts Raise Earnings Estimates for Medpace Holdings Inc (NASDAQ:MEDP)
Medpace Holdings Inc (NASDAQ:MEDP) – Equities researchers at SunTrust Banks increased their Q3 2020 earnings per share (EPS) estimates for shares of Medpace in a report released on Wednesday, July 29th. SunTrust Banks analyst S. Draper now expects that the company will post earnings per share of $1.12 for the quarter, up from their prior forecast of $0.58. SunTrust Banks has a “Hold” rating and a $124.00 price target on the stock. SunTrust Banks also issued estimates for Medpace’s Q4 2020 earnings at $1.28 EPS, FY2020 earnings at $3.89 EPS, Q1 2021 earnings at $0.98 EPS, Q2 2021 earnings at $1.08 EPS, Q3 2021 earnings at $1.14 EPS, Q4 2021 earnings at $1.25 EPS, FY2021 earnings at $4.46 EPS and FY2022 earnings at $5.39 EPS.
Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.28. The business had revenue of $205.00 million during the quarter, compared to the consensus estimate of $181.17 million. Medpace had a return on equity of 16.05% and a net margin of 12.11%. Medpace’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share.
NASDAQ:MEDP opened at $119.35 on Friday. The business’s 50-day moving average price is $96.91 and its two-hundred day moving average price is $88.75. Medpace has a twelve month low of $58.72 and a twelve month high of $144.49. The stock has a market cap of $4.23 billion, a P/E ratio of 42.47 and a beta of 1.22. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.
In related news, major shareholder Medpace Investors, Llc sold 214,499 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $127.23, for a total transaction of $27,290,707.77. Following the transaction, the insider now directly owns 7,542,057 shares in the company, valued at approximately $959,575,912.11. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO August J. Troendle sold 8,582 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $100.40, for a total value of $861,632.80. Over the last three months, insiders have sold 669,153 shares of company stock worth $77,389,817. 26.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Medpace by 5.5% during the 1st quarter. Geode Capital Management LLC now owns 450,923 shares of the company’s stock worth $33,088,000 after acquiring an additional 23,691 shares during the last quarter. AXA bought a new position in Medpace during the 1st quarter worth approximately $1,123,000. Norges Bank bought a new position in Medpace during the 4th quarter worth approximately $33,391,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Medpace by 33.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,474 shares of the company’s stock worth $182,000 after acquiring an additional 626 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Medpace by 6.0% in the 1st quarter. First Trust Advisors LP now owns 114,321 shares of the company’s stock worth $8,389,000 after buying an additional 6,503 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.
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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