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

Medpace (NASDAQ:MEDP) issued its quarterly 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. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.27 EPS. Medpace updated its FY24 guidance to $10.79-11.47 EPS and its FY 2024 guidance to 10.790-11.470 EPS.

Medpace Stock Up 8.2 %

Shares of MEDP opened at $407.15 on Wednesday. The stock has a market capitalization of $12.61 billion, a P/E ratio of 41.50, a PEG ratio of 1.99 and a beta of 1.38. The firm has a fifty day simple moving average of $397.68 and a two-hundred day simple moving average of $323.14. Medpace has a twelve month low of $187.03 and a twelve month high of $419.42.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Medpace

In other Medpace news, Director Ashley M. Keating sold 250 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the sale, the director now owns 250 shares of the company’s stock, valued at approximately $102,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the sale, the director now directly owns 250 shares of the company’s stock, valued at $102,467.50. The disclosure for this sale can be found here. Insiders sold 189,340 shares of company stock valued at $76,651,647 in the last quarter. Company insiders own 20.30% of the company’s stock.

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.