Medpace Holdings, Inc. (NASDAQ:MEDP) – Equities research analysts at Truist Securiti issued their Q2 2021 EPS estimates for Medpace in a note issued to investors on Wednesday, April 28th. Truist Securiti analyst S. Draper anticipates that the company will post earnings per share of $0.97 for the quarter. Truist Securiti also issued estimates for Medpace’s Q3 2021 earnings at $1.08 EPS, Q4 2021 earnings at $1.23 EPS, FY2021 earnings at $4.43 EPS, FY2022 earnings at $5.52 EPS and FY2023 earnings at $6.76 EPS.
Other equities research analysts have also issued research reports about the stock. Credit Suisse Group upped their target price on shares of Medpace from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Tuesday, March 23rd. Truist upped their price target on shares of Medpace from $135.00 to $180.00 in a research report on Wednesday, February 17th. Finally, Zacks Investment Research downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Medpace currently has an average rating of “Hold” and a consensus target price of $141.17.
Medpace (NASDAQ:MEDP) last posted its earnings results on Sunday, April 25th. The company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.13. Medpace had a net margin of 13.87% and a return on equity of 17.67%. The business had revenue of $260.00 million for the quarter, compared to analyst estimates of $266.48 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. Scout Investments Inc. increased its stake in shares of Medpace by 3.8% in the 4th quarter. Scout Investments Inc. now owns 103,688 shares of the company’s stock valued at $14,433,000 after acquiring an additional 3,800 shares during the last quarter. Meritage Portfolio Management increased its stake in Medpace by 1.4% during the 4th quarter. Meritage Portfolio Management now owns 74,182 shares of the company’s stock worth $10,326,000 after purchasing an additional 1,017 shares in the last quarter. Norges Bank bought a new stake in Medpace during the 4th quarter worth approximately $46,440,000. State Board of Administration of Florida Retirement System increased its stake in Medpace by 5.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 28,193 shares of the company’s stock worth $3,924,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Medpace by 2.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,146 shares of the company’s stock worth $1,500,000 after purchasing an additional 175 shares in the last quarter. 74.44% of the stock is owned by institutional investors.
In other Medpace news, major shareholder Medpace Investors, Llc sold 20,729 shares of the company’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $193.38, for a total transaction of $4,008,574.02. Following the transaction, the insider now directly owns 6,340,721 shares in the company, valued at approximately $1,226,168,626.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 14,377 shares of the company’s stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $188.64, for a total transaction of $2,712,077.28. Following the transaction, the chief executive officer now owns 706,643 shares in the company, valued at $133,301,135.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,410 shares of company stock worth $28,508,742. Corporate insiders own 26.00% of the company’s stock.
Medpace Company Profile
Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It also provides clinical development services to the biotechnology, pharmaceutical, 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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