Medpace (MEDP) to Release Earnings on Monday

Medpace (NASDAQ:MEDP) is set to release its earnings data after the market closes on Monday, April 22nd. Analysts expect Medpace to post earnings of $2.45 per share for the quarter. Medpace has set its FY24 guidance at $10.18-10.87 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 12th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.24. The business had revenue of $498.40 million for the quarter, compared to the consensus estimate of $498.72 million. Medpace had a return on equity of 63.98% and a net margin of 15.00%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. On average, analysts expect Medpace to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Medpace Price Performance

NASDAQ MEDP opened at $372.00 on Friday. The company has a market cap of $11.52 billion, a PE ratio of 41.89, a price-to-earnings-growth ratio of 2.02 and a beta of 1.38. The stock’s 50 day simple moving average is $395.78 and its 200-day simple moving average is $319.96. Medpace has a 1-year low of $185.43 and a 1-year high of $419.42.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 100,000 shares of Medpace stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the sale, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the sale, the director now directly owns 250 shares of the company’s stock, valued at approximately $102,467.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medpace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MEDP. Rice Hall James & Associates LLC increased its stake in Medpace by 12.1% during the first quarter. Rice Hall James & Associates LLC now owns 183,556 shares of the company’s stock worth $30,028,000 after acquiring an additional 19,884 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Medpace by 28.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,581 shares of the company’s stock valued at $259,000 after buying an additional 349 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Medpace by 26.1% in the first quarter. Cetera Advisor Networks LLC now owns 2,304 shares of the company’s stock valued at $377,000 after buying an additional 477 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Medpace by 2.4% in the first quarter. Rhumbline Advisers now owns 78,755 shares of the company’s stock valued at $12,884,000 after buying an additional 1,827 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Medpace by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,537 shares of the company’s stock valued at $1,724,000 after buying an additional 1,005 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MEDP. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Robert W. Baird raised their target price on Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and raised their target price for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $382.00.

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.