Medpace (NASDAQ:MEDP – Get Free Report) 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 – Get Free Report) 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
Check Out Our Latest Stock Analysis on Medpace
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.
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