Medpace (NASDAQ:MEDP) Releases Earnings Results

Medpace (NASDAQ:MEDP) posted its earnings results on Monday. The company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75, Briefing.com reports. The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. Medpace had a return on equity of 65.98% and a net margin of 15.92%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.27 EPS. Medpace updated its FY24 guidance to $10.79-11.47 EPS and its FY 2024 guidance to 10.790-11.470 EPS.

Medpace Stock Up 8.2 %

NASDAQ:MEDP opened at $407.15 on Wednesday. The business’s 50-day simple moving average is $397.68 and its two-hundred day simple moving average is $323.14. Medpace has a 52 week low of $187.03 and a 52 week high of $419.42. The stock has a market cap of $12.61 billion, a PE ratio of 41.50, a P/E/G ratio of 1.99 and a beta of 1.38.

Insider Transactions at Medpace

In other Medpace news, VP Susan E. Burwig sold 102 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, 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 SEC, which is available at this link. In other Medpace news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock valued at $76,651,647 over the last 90 days. Company insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MEDP has been the topic of a number of research reports. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and raised their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Robert W. Baird raised their price target on Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and lifted their target price for the company from $340.00 to $450.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 target price on the stock. Finally, StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $404.80.

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.