Medpace (NASDAQ:MEDP) Releases Earnings Results, Beats Estimates By $0.75 EPS

Medpace (NASDAQ:MEDP) issued 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 for the quarter, compared to analyst estimates of $512.39 million. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted $2.27 earnings per share. 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 1.1 %

Shares of MEDP opened at $376.26 on Tuesday. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 42.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. Medpace has a twelve month low of $187.03 and a twelve month high of $419.42. The company has a 50 day moving average of $396.82 and a two-hundred day moving average of $322.00.

Analyst Ratings Changes

A number of equities analysts have recently commented on MEDP shares. UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and raised their target price for the stock from $282.00 to $452.00 in a research report on Thursday, February 15th. Robert W. Baird lifted 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 lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $340.00 to $450.00 in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $395.60.

Insider Buying and Selling at Medpace

In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the completion of the sale, the insider now directly owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the completion of the sale, the insider now directly owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO August J. Troendle sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $408.71, for a total transaction of $10,217,750.00. Following the completion of the sale, the chief executive officer now owns 4,733,019 shares of the company’s stock, valued at $1,934,432,195.49. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock worth $76,651,647 over the last three months. Corporate insiders own 20.30% of the company’s stock.

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.