Mitsubishi UFJ Financial Group Research Analysts Decrease Earnings Estimates for Medpace Holdings Inc (NASDAQ:MEDP)

Medpace Holdings Inc (NASDAQ:MEDP) – Investment analysts at Mitsubishi UFJ Financial Group lowered their Q2 2019 earnings per share estimates for shares of Medpace in a research report issued to clients and investors on Tuesday, April 30th, Zacks Investment Research reports. Mitsubishi UFJ Financial Group analyst J. Twizell now forecasts that the company will post earnings per share of $0.63 for the quarter, down from their prior forecast of $0.64. Mitsubishi UFJ Financial Group also issued estimates for Medpace’s Q3 2019 earnings at $0.66 EPS, Q4 2019 earnings at $0.68 EPS, FY2019 earnings at $2.61 EPS, Q1 2020 earnings at $0.66 EPS, Q3 2020 earnings at $0.75 EPS, Q4 2020 earnings at $0.79 EPS and FY2021 earnings at $3.22 EPS.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. Medpace had a return on equity of 17.16% and a net margin of 10.49%. The firm had revenue of $200.70 million during the quarter, compared to the consensus estimate of $190.16 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year.

A number of other equities research analysts also recently issued reports on MEDP. BidaskClub raised Medpace from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 25th. Zacks Investment Research downgraded Medpace from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. TheStreet cut Medpace from a “b” rating to a “c” rating in a research note on Friday, March 22nd. Wolfe Research initiated coverage on Medpace in a research note on Tuesday, April 2nd. They set an “outperform” rating on the stock. Finally, ValuEngine cut Medpace from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $59.25.

MEDP stock traded down $0.99 during trading on Thursday, reaching $54.99. 226,912 shares of the stock traded hands, compared to its average volume of 613,926. Medpace has a 52-week low of $41.27 and a 52-week high of $71.66. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.98 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.68 and a beta of 1.51.

Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Medpace by 4.0% in the fourth quarter. Victory Capital Management Inc. now owns 4,500 shares of the company’s stock worth $238,000 after acquiring an additional 173 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Medpace by 1.9% in the fourth quarter. Jennison Associates LLC now owns 13,942 shares of the company’s stock worth $738,000 after acquiring an additional 260 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its stake in shares of Medpace by 5.1% in the first quarter. Piedmont Investment Advisors Inc. now owns 6,405 shares of the company’s stock worth $378,000 after acquiring an additional 312 shares in the last quarter. Mason Street Advisors LLC lifted its stake in shares of Medpace by 4.2% in the first quarter. Mason Street Advisors LLC now owns 8,367 shares of the company’s stock worth $493,000 after acquiring an additional 340 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its stake in shares of Medpace by 4.0% in the fourth quarter. Eqis Capital Management Inc. now owns 9,366 shares of the company’s stock worth $496,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 83.50% of the company’s stock.

In other Medpace news, CFO Jesse J. Geiger sold 12,000 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $58.20, for a total transaction of $698,400.00. Following the transaction, the chief financial officer now owns 25,037 shares in the company, valued at $1,457,153.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jesse J. Geiger sold 25,037 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $60.00, for a total value of $1,502,220.00. Following the transaction, the chief financial officer now owns 25,037 shares in the company, valued at approximately $1,502,220. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,983 shares of company stock worth $2,661,091. 24.20% of the stock is currently owned by insiders.

About Medpace

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

Featured Article: What are defining characteristics of a correction?

Get a free copy of the Zacks research report on Medpace (MEDP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Medpace (NASDAQ:MEDP)

Receive News & Ratings for Medpace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace and related companies with MarketBeat.com's FREE daily email newsletter.