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Mitsubishi UFJ Financial Group Weighs in on Medpace Holdings Inc’s FY2018 Earnings (MEDP)

Medpace Holdings Inc (NASDAQ:MEDP) – Equities researchers at Mitsubishi UFJ Financial Group raised their FY2018 earnings per share estimates for Medpace in a report issued on Thursday, November 8th, according to Zacks Investment Research. Mitsubishi UFJ Financial Group analyst J. Twizell now anticipates that the company will post earnings of $2.56 per share for the year, up from their prior estimate of $2.48. Mitsubishi UFJ Financial Group also issued estimates for Medpace’s Q4 2018 earnings at $0.73 EPS, Q2 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.80 EPS, FY2019 earnings at $2.96 EPS and FY2020 earnings at $3.38 EPS.

Medpace (NASDAQ:MEDP) last issued its earnings results on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Medpace had a net margin of 10.84% and a return on equity of 15.86%. The firm had revenue of $179.00 million for the quarter, compared to analyst estimates of $175.07 million. During the same quarter last year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 44.4% on a year-over-year basis.

A number of other analysts have also weighed in on the stock. BidaskClub upgraded shares of Medpace from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 12th. SunTrust Banks upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Wednesday, October 31st. They noted that the move was a valuation call. TheStreet upgraded shares of Medpace from a “c” rating to a “b-” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, November 1st. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.43.

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Medpace stock traded down $2.58 during mid-day trading on Monday, reaching $61.40. The company had a trading volume of 770,066 shares, compared to its average volume of 525,805. Medpace has a fifty-two week low of $31.75 and a fifty-two week high of $65.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $2.20 billion, a P/E ratio of 40.39, a P/E/G ratio of 1.59 and a beta of 1.49.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Medpace during the second quarter worth $107,000. Metropolitan Life Insurance Co. NY raised its stake in Medpace by 57.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 4,144 shares of the company’s stock worth $178,000 after buying an additional 1,507 shares during the last quarter. Sei Investments Co. raised its stake in Medpace by 5,087.5% during the second quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock worth $196,000 after buying an additional 4,477 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Medpace by 270.1% during the third quarter. Great West Life Assurance Co. Can now owns 3,331 shares of the company’s stock worth $200,000 after buying an additional 2,431 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Medpace by 78.6% during the third quarter. Legal & General Group Plc now owns 3,436 shares of the company’s stock worth $206,000 after buying an additional 1,512 shares during the last quarter. 67.54% of the stock is owned by institutional investors and hedge funds.

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In other news, major shareholder Medpace Investors, Llc sold 61,141 shares of Medpace stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $60.20, for a total transaction of $3,680,688.20. Following the transaction, the insider now owns 9,084,369 shares in the company, valued at $546,879,013.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO August J. Troendle sold 46,778 shares of Medpace stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $58.96, for a total transaction of $2,758,030.88. Following the transaction, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at approximately $20,745,134.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 396,559 shares of company stock worth $23,422,389. 29.50% of the stock is owned by company 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.

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