Medpace Holdings, Inc. (NASDAQ:MEDP) announced its quarterly earnings results on Monday. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04, Bloomberg Earnings reports. The firm had revenue of $98.68 million during the quarter, compared to the consensus estimate of $96.84 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 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share.
Shares of Medpace Holdings (NASDAQ:MEDP) opened at 36.23 on Tuesday. Medpace Holdings has a 12-month low of $21.76 and a 12-month high of $38.94. The stock has a 50 day moving average price of $32.83 and a 200 day moving average price of $29.96. The firm has a market capitalization of $1.43 billion, a P/E ratio of 63.79 and a beta of -0.85.
In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of Medpace Holdings stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 25.80% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on the company. Zacks Investment Research downgraded Medpace Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. KeyCorp reaffirmed a “hold” rating on shares of Medpace Holdings in a report on Tuesday, October 17th. Robert W. Baird reissued a “hold” rating and issued a $32.00 price objective on shares of Medpace Holdings in a report on Monday, October 9th. Raymond James Financial, Inc. initiated coverage on Medpace Holdings in a report on Friday, September 29th. They issued a “market perform” rating for the company. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $31.00 price objective (up from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Medpace Holdings currently has an average rating of “Hold” and a consensus target price of $34.20.
About Medpace Holdings
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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