Brokerages Anticipate Medpace Holdings, Inc. (NASDAQ:MEDP) Will Post Quarterly Sales of $346.73 Million

Brokerages expect that Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) will announce sales of $346.73 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Medpace’s earnings. The lowest sales estimate is $344.50 million and the highest is $350.09 million. Medpace posted sales of $278.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 24.6%. The business is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Medpace will report full-year sales of $1.41 billion for the current financial year, with estimates ranging from $1.38 billion to $1.42 billion. For the next financial year, analysts anticipate that the company will post sales of $1.60 billion, with estimates ranging from $1.48 billion to $1.70 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Medpace.

Medpace (NASDAQ:MEDP – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.43. Medpace had a return on equity of 24.17% and a net margin of 16.47%. The business had revenue of $330.90 million during the quarter, compared to analyst estimates of $327.09 million. During the same period last year, the company earned $1.17 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis.

A number of equities research analysts recently issued reports on MEDP shares. Zacks Investment Research raised Medpace from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a research note on Friday, April 29th. Guggenheim initiated coverage on Medpace in a research report on Monday, May 23rd. They set a “neutral” rating for the company. Robert W. Baird lifted their target price on Medpace from $160.00 to $175.00 in a research report on Thursday, March 17th. Finally, StockNews.com initiated coverage on Medpace in a research report on Thursday, March 31st. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $173.48.

Several large investors have recently made changes to their positions in the company. Beacon Pointe Advisors LLC grew its stake in Medpace by 4.1% during the 3rd quarter. Beacon Pointe Advisors LLC now owns 1,176 shares of the company’s stock worth $223,000 after buying an additional 46 shares during the last quarter. Liberty Wealth Management LLC lifted its position in Medpace by 67.1% during the 3rd quarter. Liberty Wealth Management LLC now owns 137 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. Joseph Group Capital Management acquired a new stake in Medpace during the 4th quarter worth about $535,000. Arizona State Retirement System lifted its position in Medpace by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 7,839 shares of the company’s stock worth $1,484,000 after acquiring an additional 68 shares during the period. Finally, Cim LLC lifted its position in Medpace by 2.8% during the 1st quarter. Cim LLC now owns 2,570 shares of the company’s stock worth $409,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 79.70% of the company’s stock.

Shares of MEDP stock traded up $11.83 on Friday, reaching $147.37. 403,512 shares of the company’s stock were exchanged, compared to its average volume of 344,418. Medpace has a 52 week low of $126.94 and a 52 week high of $231.00. The stock has a market capitalization of $4.96 billion, a PE ratio of 27.49 and a beta of 1.53. The company’s fifty day simple moving average is $148.30 and its 200 day simple moving average is $172.27.

About Medpace (Get Rating)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also provides clinical development services to the pharmaceutical, biotechnology, 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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