Medpace (NASDAQ:MEDP – Get Free Report) announced its earnings results on Monday. The company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.75, Briefing.com reports. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same period in the previous year, the business earned $2.27 EPS. The company’s revenue was up 17.7% on a year-over-year basis. 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 NASDAQ MEDP traded down $12.14 during mid-day trading on Wednesday, reaching $395.01. The company had a trading volume of 193,073 shares, compared to its average volume of 248,366. Medpace has a twelve month low of $189.30 and a twelve month high of $421.00. The stock has a market capitalization of $12.24 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 is $397.68 and its 200-day moving average is $323.14.
Insiders Place Their Bets
In other Medpace news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the transaction, the insider now directly owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 over the last three months. 20.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on MEDP
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.
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