Wall Street analysts expect Medpace Holdings, Inc. (NASDAQ:MEDP) to report $265.00 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Medpace's earnings, with the lowest sales estimate coming in at $260.90 million and the highest estimate coming in at $269.70 million. Medpace posted sales of $230.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.8%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, April 26th.
According to Zacks, analysts expect that Medpace will report full-year sales of $1.14 billion for the current year, with estimates ranging from $1.12 billion to $1.17 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.33 billion, with estimates ranging from $1.27 billion to $1.43 billion. Zacks' sales averages are an average based on a survey of sell-side research firms that that provide coverage for Medpace.
Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Sunday, February 14th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.11. Medpace had a net margin of 13.87% and a return on equity of 17.67%. The business had revenue of $259.68 million for the quarter, compared to analyst estimates of $246.41 million.
A number of research analysts have weighed in on MEDP shares. Credit Suisse Group lifted their price target on shares of Medpace from $178.00 to $181.00 and gave the company an "outperform" rating in a research note on Tuesday, March 23rd. Zacks Investment Research lowered shares of Medpace from a "buy" rating to a "sell" rating in a research note on Tuesday, February 23rd. Finally, Truist lifted their price target on shares of Medpace from $135.00 to $180.00 in a research note on Wednesday, February 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of "Hold" and an average price target of $140.67.
In other news, CEO August J. Troendle sold 3,720 shares of the firm's stock in a transaction that occurred on Wednesday, April 14th. The shares were sold at an average price of $180.48, for a total transaction of $671,385.60. Following the completion of the sale, the chief executive officer now owns 706,643 shares of the company's stock, valued at approximately $127,534,928.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Medpace Investors, Llc sold 31,270 shares of the firm's stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $186.65, for a total transaction of $5,836,545.50. Following the sale, the insider now directly owns 6,453,482 shares of the company's stock, valued at approximately $1,204,542,415.30. The disclosure for this sale can be found here. Insiders sold 96,812 shares of company stock valued at $17,367,378 in the last ninety days. 26.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Scout Investments Inc. grew its position in shares of Medpace by 3.8% during the 4th quarter. Scout Investments Inc. now owns 103,688 shares of the company's stock worth $14,433,000 after buying an additional 3,800 shares during the period. Meritage Portfolio Management lifted its holdings in shares of Medpace by 1.4% in the 4th quarter. Meritage Portfolio Management now owns 74,182 shares of the company's stock worth $10,326,000 after purchasing an additional 1,017 shares in the last quarter. Norges Bank bought a new position in shares of Medpace in the 4th quarter worth $46,440,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Medpace by 5.7% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 28,193 shares of the company's stock worth $3,924,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Medpace by 40.3% in the 3rd quarter. Sei Investments Co. now owns 55,329 shares of the company's stock worth $6,188,000 after purchasing an additional 15,896 shares in the last quarter. 74.44% of the stock is owned by institutional investors.
Shares of MEDP opened at $187.49 on Friday. Medpace has a twelve month low of $73.62 and a twelve month high of $191.76. The firm's 50 day moving average price is $167.28 and its two-hundred day moving average price is $143.55. The firm has a market cap of $6.75 billion, a P/E ratio of 57.34 and a beta of 1.35.
Medpace Company Profile
Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It also provides clinical development services to the biotechnology, pharmaceutical, and medical device industries; and 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 services.
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