Medpace (NASDAQ:MEDP) Issues Earnings Results

Medpace (NASDAQ:MEDP) released its quarterly earnings data on Wednesday. The company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.44 by $0.40, FiscalAI reports. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million. Medpace had a return on equity of 110.15% and a net margin of 17.67%.

Medpace Stock Performance

NASDAQ:MEDP traded up $40.05 on Wednesday, hitting $662.48. The stock had a trading volume of 1,025,679 shares, compared to its average volume of 330,139. The stock has a market cap of $18.49 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. Medpace has a 1 year low of $373.00 and a 1 year high of $677.90. The firm’s fifty day simple moving average is $607.09 and its two-hundred day simple moving average is $534.49.

Insider Activity at Medpace

In other news, CEO August Troendle sold 49,018 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total value of $30,788,695.98. Following the completion of the transaction, the chief executive officer directly owned 433,372 shares of the company’s stock, valued at $272,205,286.92. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 336,140 shares of company stock worth $208,008,328. 20.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen increased their target price on Medpace from $419.00 to $492.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Royal Bank Of Canada upped their price objective on shares of Medpace from $484.00 to $692.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Truist Financial raised their price objective on shares of Medpace from $462.00 to $609.00 and gave the company a “hold” rating in a research note on Friday, July 24th. UBS Group assumed coverage on shares of Medpace in a research note on Wednesday, September 30th. They issued a “neutral” rating and a $673.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $535.00 price objective on shares of Medpace in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $607.73.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.