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 $11.24-11.93 for the period, compared to the consensus estimate of $11.27. The company issued revenue guidance of $2.125-2.175 billion, compared to the consensus revenue estimate of $2.17 billion.

Analyst Ratings Changes

A number of analysts have recently issued reports on MEDP shares. StockNews.com raised Medpace from a hold rating to a buy rating in a research report on Thursday, July 11th. Robert W. Baird raised their price objective on Medpace from $456.00 to $469.00 and gave the company an outperform rating in a research report on Monday, July 8th. TD Cowen started coverage on Medpace in a research report on Wednesday, May 29th. They issued a buy rating and a $452.00 price objective for the company. Guggenheim raised their price objective on Medpace from $453.00 to $464.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Finally, Mizuho initiated coverage on Medpace in a research note on Tuesday, May 28th. They set a buy rating and a $435.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $445.29.

Medpace Price Performance

Medpace stock traded up $15.87 during mid-day trading on Monday, reaching $437.18. 284,381 shares of the company were exchanged, compared to its average volume of 229,321. The company has a fifty day simple moving average of $405.16 and a 200-day simple moving average of $380.20. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77. The firm has a market cap of $13.54 billion, a PE ratio of 44.48, a PEG ratio of 2.08 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, April 22nd. The company reported $3.20 EPS 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 firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. During the same quarter last year, the company earned $2.27 EPS. The company’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that Medpace will post 11.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 4,782 shares of Medpace stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total value of $1,915,573.56. Following the transaction, the chief executive officer now owns 716,197 shares in the company, valued at approximately $286,894,194.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the sale, the chief executive officer now owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the sale, the chief executive officer now directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The disclosure for this sale can be found here. Insiders have sold a total of 29,621 shares of company stock worth $11,816,852 in the last 90 days. Company insiders own 20.30% of the company’s stock.

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.