Medpace (NASDAQ:MEDP) Announces Earnings Results

Medpace (NASDAQ:MEDPGet Free Report) posted its earnings results on Monday. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.22 by $0.24, MarketWatch Earnings reports. The firm had revenue of $498.40 million for the quarter, compared to analysts’ expectations of $498.72 million. Medpace had a net margin of 15.33% and a return on equity of 68.48%. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. Medpace updated its FY24 guidance to $10.18-10.87 EPS.

Medpace Stock Performance

NASDAQ:MEDP traded down $2.18 during trading hours on Monday, reaching $324.21. The stock had a trading volume of 399,182 shares, compared to its average volume of 177,701. Medpace has a 12-month low of $167.00 and a 12-month high of $331.10. The stock has a 50 day simple moving average of $297.61 and a 200 day simple moving average of $273.00. The stock has a market cap of $9.95 billion, a P/E ratio of 38.22 and a beta of 1.29.

Analyst Ratings Changes

Separately, Robert W. Baird upped their price objective on Medpace from $302.00 to $312.00 and gave the company an “outperform” rating in a research note on Wednesday, January 17th.

Check Out Our Latest Report on Medpace

Insider Transactions at Medpace

In other news, VP Susan E. Burwig sold 10,391 shares of Medpace stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $304.15, for a total value of $3,160,422.65. Following the completion of the transaction, the vice president now owns 17,292 shares in the company, valued at $5,259,361.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Medpace news, CEO August J. Troendle sold 7,871 shares of Medpace stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $272.18, for a total transaction of $2,142,328.78. Following the completion of the transaction, the chief executive officer now owns 5,613,986 shares of the company’s stock, valued at approximately $1,528,014,709.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Susan E. Burwig sold 10,391 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $304.15, for a total transaction of $3,160,422.65. Following the completion of the sale, the vice president now directly owns 17,292 shares in the company, valued at $5,259,361.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,391 shares of company stock worth $58,708,131. 25.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medpace

Several hedge funds have recently bought and sold shares of the company. Creative Planning boosted its stake in Medpace by 1.9% during the second quarter. Creative Planning now owns 3,110 shares of the company’s stock valued at $465,000 after buying an additional 58 shares during the period. State of Wyoming grew its position in Medpace by 35.2% in the second quarter. State of Wyoming now owns 246 shares of the company’s stock worth $59,000 after acquiring an additional 64 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Medpace by 1.0% during the 1st quarter. LPL Financial LLC now owns 10,298 shares of the company’s stock valued at $1,937,000 after buying an additional 100 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Medpace by 361.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 143 shares of the company’s stock worth $30,000 after buying an additional 112 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Medpace by 10.7% in the first quarter. Centaurus Financial Inc. now owns 1,297 shares of the company’s stock worth $244,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

(Get Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also provides clinical development services to the pharmaceutical, biotechnology, 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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Earnings History for Medpace (NASDAQ:MEDP)

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