Medpace Holdings, Inc. (MEDP) Downgraded to Market Perform at William Blair
William Blair cut shares of Medpace Holdings, Inc. (NASDAQ:MEDP) from an outperform rating to a market perform rating in a research note published on Wednesday, Marketbeat reports. William Blair also issued estimates for Medpace Holdings’ Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.43 EPS, FY2017 earnings at $1.50 EPS, Q1 2018 earnings at $0.39 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.67 EPS, FY2018 earnings at $1.68 EPS, Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.50 EPS, FY2019 earnings at $1.93 EPS, FY2019 earnings at $1.94 EPS and FY2020 earnings at $2.23 EPS. The analysts noted that the move was a valuation call.
Other equities analysts also recently issued research reports about the stock. Jefferies Group LLC restated a hold rating and set a $31.00 price objective (up previously from $30.00) on shares of Medpace Holdings in a research report on Wednesday, August 2nd. KeyCorp restated a hold rating on shares of Medpace Holdings in a research report on Tuesday, October 17th. Robert W. Baird upped their price objective on shares of Medpace Holdings from $32.00 to $35.00 and gave the stock a neutral rating in a research report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Medpace Holdings from a buy rating to a hold rating in a research report on Tuesday, October 24th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Medpace Holdings in a research report on Friday, September 29th. They set a market perform rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $36.60.
Shares of Medpace Holdings (MEDP) traded up $1.22 during mid-day trading on Wednesday, hitting $37.24. 183,512 shares of the stock traded hands, compared to its average volume of 102,308. Medpace Holdings has a 1-year low of $21.76 and a 1-year high of $39.64. The stock has a market cap of $1,400.45, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.91 and a beta of -0.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.68.
Medpace Holdings (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 30th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The company had revenue of $98.68 million during the quarter, compared to the consensus estimate of $96.84 million. Medpace Holdings had a net margin of 6.44% and a return on equity of 10.00%. Medpace Holdings’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. equities analysts expect that Medpace Holdings will post 1.5 earnings per share for the current year.
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In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $30.27, for a total transaction of $60,540,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 25.80% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Medpace Holdings by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after purchasing an additional 191,597 shares during the period. Bernzott Capital Advisors grew its stake in shares of Medpace Holdings by 141.4% during the 2nd quarter. Bernzott Capital Advisors now owns 593,840 shares of the company’s stock worth $17,221,000 after purchasing an additional 347,804 shares during the period. Acadian Asset Management LLC grew its stake in shares of Medpace Holdings by 46.6% during the 2nd quarter. Acadian Asset Management LLC now owns 485,638 shares of the company’s stock worth $14,084,000 after purchasing an additional 154,331 shares during the period. Granite Investment Partners LLC acquired a new position in shares of Medpace Holdings during the 2nd quarter worth $8,118,000. Finally, Redmile Group LLC acquired a new position in shares of Medpace Holdings during the 2nd quarter worth $6,526,000. 16.32% of the stock is currently owned by institutional investors and hedge funds.
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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