Medpace (NASDAQ:MEDP) Issues FY24 Earnings Guidance

Medpace (NASDAQ:MEDP) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $11.24-11.93 for the period, compared to the consensus earnings per share 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. Medpace also updated its FY 2024 guidance to 11.240-11.930 EPS.

Medpace Trading Up 6.9 %

Shares of Medpace stock opened at $381.88 on Thursday. Medpace has a 52 week low of $227.21 and a 52 week high of $459.77. The company’s 50-day moving average price is $404.81 and its two-hundred day moving average price is $381.66. The stock has a market cap of $11.83 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 59.91%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. On average, equities analysts predict that Medpace will post 11.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MEDP has been the subject of a number of recent analyst reports. William Blair reiterated an outperform rating on shares of Medpace in a research report on Tuesday. Robert W. Baird decreased their price objective on shares of Medpace from $469.00 to $430.00 and set an outperform rating for the company in a research note on Wednesday. TD Cowen cut their target price on shares of Medpace from $452.00 to $434.00 and set a buy rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on Medpace from $395.00 to $336.00 and set a hold rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group raised Medpace from a hold rating to a buy rating and upped their price target for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $424.14.

Insider Buying and Selling

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