Medpace (NASDAQ:MEDP) Posts Earnings Results

Medpace (NASDAQ:MEDP) posted its quarterly earnings results on Monday. The company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter last year, the company posted $2.27 earnings per share. The business’s quarterly 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 Up 8.2 %

Shares of NASDAQ MEDP opened at $407.15 on Wednesday. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 41.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. Medpace has a 52-week low of $187.03 and a 52-week high of $419.42. The company’s 50-day simple moving average is $397.68 and its 200-day simple moving average is $323.14.

Analyst Ratings Changes

MEDP has been the subject of several recent research reports. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and raised their target price for the stock from $340.00 to $450.00 in a report on Tuesday. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and raised their price target for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $395.60.

Insider Buying and Selling

In related news, VP Susan E. Burwig sold 102 shares of the business’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 transaction, the vice president now directly owns 15,181 shares in the company, valued at $6,117,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction that occurred 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 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. Over the last three months, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is 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.