Medpace (NASDAQ:MEDP) Releases FY 2024 Earnings Guidance

Medpace (NASDAQ:MEDP) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 11.710-12.090 for the period, compared to the consensus estimate of 11.560. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Medpace also updated its FY24 guidance to $11.71-12.09 EPS.

Analyst Ratings Changes

A number of brokerages have commented on MEDP. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Tuesday. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and reduced their target price for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Redburn Atlantic assumed coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. Finally, Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $380.00.

Medpace Price Performance

NASDAQ:MEDP traded down $5.28 during trading hours on Thursday, hitting $324.79. The company’s stock had a trading volume of 13,134 shares, compared to its average volume of 272,783. The stock has a fifty day simple moving average of $353.71 and a 200-day simple moving average of $382.20. The company has a market capitalization of $10.06 billion, a P/E ratio of 33.65, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a twelve month low of $239.00 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. Medpace’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. On average, equities analysts predict that Medpace will post 11.64 EPS for the current fiscal year.

Medpace Company Profile

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.