Medpace (NASDAQ:MEDP) Releases FY24 Earnings Guidance

Medpace (NASDAQ:MEDP) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $10.79-11.47 for the period, compared to the consensus estimate of $10.62. The company issued revenue guidance of $2.15-2.20 billion, compared to the consensus revenue estimate of $2.19 billion. Medpace also updated its FY 2024 guidance to 10.790-11.470 EPS.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of recent analyst reports. UBS Group raised Medpace from a neutral rating to a buy rating and increased their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Jefferies Financial Group upgraded Medpace from a hold rating to a buy rating and lifted their price target for the company from $340.00 to $450.00 in a report on Tuesday. StockNews.com upgraded shares of Medpace from a hold rating to a buy rating in a report on Tuesday. Guggenheim boosted their target price on shares of Medpace from $453.00 to $464.00 and gave the company a buy rating in a report on Wednesday. Finally, Robert W. Baird lifted their price target on shares of Medpace from $446.00 to $454.00 and gave the company an outperform rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $443.00.

Medpace Trading Down 2.0 %

MEDP traded down $7.79 during trading on Thursday, hitting $389.77. 313,834 shares of the company’s stock were exchanged, compared to its average volume of 250,952. The stock has a 50 day moving average price of $397.84 and a 200 day moving average price of $323.66. Medpace has a 1 year low of $189.30 and a 1 year high of $421.00. The firm has a market cap of $12.08 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.75. Medpace had a return on equity of 59.74% 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 firm earned $2.27 EPS. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts forecast that Medpace will post 11.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medpace news, VP Susan E. Burwig sold 102 shares of the business’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 transaction, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Medpace Investors, Llc sold 13,988 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 5,525,959 shares of the company’s stock, valued at approximately $2,135,175,298.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction dated Friday, March 15th. The stock was 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 sold a total of 189,340 shares of company stock worth $76,651,647 in the last 90 days. 20.30% of the stock is owned by company 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.