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

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

Medpace Price Performance

Medpace stock opened at $407.15 on Wednesday. Medpace has a 1-year low of $187.03 and a 1-year high of $419.42. The company 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. The stock’s 50 day moving average price is $397.68 and its 200 day moving average price is $323.14.

Wall Street Analysts Forecast Growth

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

Insider Activity at Medpace

In related news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Susan E. Burwig sold 102 shares of the company’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 completion of the transaction, the vice president now owns 15,181 shares of the company’s stock, valued at $6,117,943. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock worth $76,651,647 over the last three months. 20.30% of the stock is currently owned by corporate insiders.

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.