Medpace (NASDAQ:MEDP) Issues FY 2024 Earnings Guidance

Medpace (NASDAQ:MEDP) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 10.790-11.470 for the period, compared to the consensus estimate of 10.610. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Medpace also updated its FY24 guidance to $10.79-11.47 EPS.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their price target on Medpace from $446.00 to $454.00 and gave the company an outperform rating in a research report on Wednesday. StockNews.com raised Medpace from a hold rating to a buy rating in a research report on Tuesday. Jefferies Financial Group raised Medpace from a hold rating to a buy rating and raised their price target for the company from $340.00 to $450.00 in a research report on Tuesday. Guggenheim raised their price target on Medpace from $453.00 to $464.00 and gave the company a buy rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research report on Monday, March 18th. They issued a hold rating and a $395.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Medpace presently has an average rating of Moderate Buy and an average target price of $443.00.

Medpace Trading Down 2.0 %

MEDP stock traded down $7.79 during trading on Thursday, reaching $389.77. 313,834 shares of the stock were exchanged, compared to its average volume of 252,144. Medpace has a twelve month low of $189.30 and a twelve month high of $421.00. The company has a market capitalization 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. The stock has a 50 day simple moving average of $397.84 and a 200-day simple moving average of $323.66.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. During the same period last year, the business earned $2.27 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts predict that Medpace will post 11.13 EPS for the current year.

Insider Buying and Selling

In other Medpace news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were 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 owns 15,181 shares in the company, valued at $6,117,943. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Medpace news, major shareholder Medpace Investors, Llc sold 13,988 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the completion of the transaction, the insider now owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 over the last three months. 20.30% of the stock is 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.