Medpace (NASDAQ:MEDP) Announces Earnings Results

Medpace (NASDAQ:MEDP) released 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. Medpace had a return on equity of 65.98% and a net margin of 15.92%. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same quarter last year, the business posted $2.27 EPS. Medpace’s quarterly 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 Stock Performance

Shares of MEDP stock traded down $9.59 during mid-day trading on Wednesday, hitting $397.56. 416,865 shares of the stock traded hands, compared to its average volume of 249,374. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 40.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. The company’s 50-day simple moving average is $397.68 and its 200-day simple moving average is $323.14. Medpace has a twelve month low of $189.30 and a twelve month high of $421.00.

Analyst Ratings Changes

MEDP has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a report on Monday, March 18th. They set a “hold” rating and a $395.00 target price on the stock. Robert W. Baird raised their price target on Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group raised 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 report on Thursday, February 15th. Finally, Guggenheim raised their price target on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Medpace has a consensus rating of “Moderate Buy” and a consensus price target of $443.00.

Insider Buying and Selling

In related news, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $386.39, for a total value of $5,404,823.32. Following the transaction, the insider now directly owns 5,525,959 shares in the company, valued at approximately $2,135,175,298.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the vice president now owns 15,181 shares of the company’s stock, valued at $6,117,943. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total value of $5,404,823.32. Following the sale, the insider now directly owns 5,525,959 shares of the company’s stock, valued at approximately $2,135,175,298.01. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock worth $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.