William Blair Equities Analysts Lift Earnings Estimates for Medpace Holdings, Inc. (NASDAQ:MEDP)

Medpace Holdings, Inc. (NASDAQ:MEDP) – Equities research analysts at William Blair upped their Q3 2024 EPS estimates for Medpace in a research note issued on Wednesday, July 24th. William Blair analyst M. Smock now anticipates that the company will earn $2.74 per share for the quarter, up from their prior forecast of $2.68. William Blair has a “Outperform” rating on the stock. The consensus estimate for Medpace’s current full-year earnings is $11.59 per share. William Blair also issued estimates for Medpace’s FY2024 earnings at $11.55 EPS, Q1 2025 earnings at $3.20 EPS and Q2 2025 earnings at $3.30 EPS.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the company posted $1.93 earnings per share. Medpace’s revenue for the quarter was up 14.6% compared to the same quarter last year.

MEDP has been the topic of several other research reports. Guggenheim reduced their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday. Mizuho started coverage on shares of Medpace in a research report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday. Robert W. Baird reduced their price target on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, TD Cowen reduced their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $424.14.

Medpace Stock Performance

Shares of MEDP opened at $381.47 on Thursday. The stock has a market capitalization of $11.83 billion, a PE ratio of 38.89, a P/E/G ratio of 1.84 and a beta of 1.36. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The company’s 50-day simple moving average is $404.32 and its 200-day simple moving average is $382.18.

Hedge Funds Weigh In On Medpace

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new position in Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. purchased a new position in shares of Medpace during the first quarter worth approximately $28,000. Fidelis Capital Partners LLC purchased a new position in shares of Medpace during the first quarter worth approximately $31,000. DT Investment Partners LLC purchased a new position in shares of Medpace during the second quarter worth approximately $41,000. Finally, Arcadia Investment Management Corp MI grew its position in shares of Medpace by 40.3% during the first quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after acquiring an additional 29 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 15,102 shares of the firm’s 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 sale, the chief executive officer now owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the transaction, the chief executive officer now directly owns 660,351 shares in the company, valued at $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now owns 791,541 shares in the company, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders have sold a total of 29,621 shares of company stock valued at $11,816,852 over the last 90 days. 20.30% of the stock is owned by corporate 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.