Medpace Holdings, Inc. (NASDAQ:MEDP) issued its earnings results on Monday, July 31st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08, Briefing.com reports. The company had revenue of $94.60 million for the quarter, compared to the consensus estimate of $92.71 million. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. Medpace Holdings updated its FY17 guidance to $1.36-1.46 EPS.
Shares of Medpace Holdings (NASDAQ MEDP) opened at 31.20 on Friday. The company has a market cap of $1.23 billion and a PE ratio of 54.93. The firm’s 50-day moving average price is $29.46 and its 200-day moving average price is $29.29. Medpace Holdings has a 12 month low of $21.76 and a 12 month high of $38.94.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP bought a new position in Medpace Holdings during the second quarter valued at $220,000. Redmile Group LLC bought a new position in Medpace Holdings during the second quarter valued at $6,526,000. State Street Corp raised its position in Medpace Holdings by 4.1% in the second quarter. State Street Corp now owns 132,731 shares of the company’s stock valued at $3,853,000 after buying an additional 5,209 shares during the period. Goldman Sachs Group Inc. raised its position in Medpace Holdings by 1.4% in the second quarter. Goldman Sachs Group Inc. now owns 34,690 shares of the company’s stock valued at $1,006,000 after buying an additional 482 shares during the period. Finally, Tudor Investment Corp ET AL raised its position in Medpace Holdings by 81.0% in the second quarter. Tudor Investment Corp ET AL now owns 12,423 shares of the company’s stock valued at $360,000 after buying an additional 5,559 shares during the period. 19.19% of the stock is currently owned by hedge funds and other institutional investors.
MEDP has been the topic of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $25.50 target price (down previously from $35.50) on shares of Medpace Holdings in a report on Wednesday, May 3rd. Wells Fargo & Company downgraded Medpace Holdings from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 3rd. ValuEngine downgraded Medpace Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Zacks Investment Research downgraded Medpace Holdings from a “hold” rating to a “strong sell” rating in a report on Friday, May 5th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $36.00 price objective (up previously from $35.00) on shares of Medpace Holdings in a report on Tuesday, June 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.00.
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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