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 $11.71-12.09 for the period, compared to the consensus estimate of $11.59. The company issued revenue guidance of $2.09-2.13 billion, compared to the consensus revenue estimate of $2.13 billion.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MEDP. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Robert W. Baird lowered their price objective on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Finally, Redburn Atlantic assumed coverage on shares of Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $394.00.

Medpace Price Performance

Shares of MEDP traded down $3.69 during trading hours on Monday, hitting $352.71. 596,547 shares of the stock were exchanged, compared to its average volume of 266,246. Medpace has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The business has a 50-day moving average of $356.43 and a 200-day moving average of $383.35. The firm has a market capitalization of $10.93 billion, a P/E ratio of 36.02, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $528.41 million. During the same period 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. As a group, analysts forecast that Medpace will post 11.64 earnings per share for the current fiscal year.

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.