Medpace (NASDAQ:MEDP) Issues FY24 Earnings Guidance

Medpace (NASDAQ:MEDP) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $10.79-11.47 for the period, compared to the consensus EPS estimate of $10.62. The company issued revenue guidance of $2.15-2.20 billion, compared to the consensus revenue estimate of $2.19 billion. Medpace also updated its FY 2024 guidance to 10.790-11.470 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a report on Monday, March 18th. They set a hold rating and a $395.00 price target for the company. Jefferies Financial Group raised shares of Medpace from a hold rating to a buy rating and boosted their price target for the stock from $340.00 to $450.00 in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of Medpace from $312.00 to $408.00 and gave the company an outperform rating in a report on Wednesday, February 14th. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a report on Tuesday. Finally, UBS Group upgraded shares of Medpace from a neutral rating to a buy rating and increased their target price for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Medpace currently has a consensus rating of Moderate Buy and an average price target of $395.60.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $407.15 on Wednesday. The company has a 50 day simple moving average of $397.68 and a 200 day simple moving average of $323.14. The firm has a market cap of $12.61 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. Medpace has a 1 year low of $187.03 and a 1 year high of $419.42.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.75. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 65.98%. Medpace’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 EPS. As a group, research analysts anticipate that Medpace will post 10.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the transaction, the director now directly owns 250 shares in the company, valued at $102,467.50. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 in the last three months. 20.30% of the stock is currently owned by insiders.

About Medpace

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 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.