Medpace (NASDAQ:MEDP – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 11.710-12.090 for the period, compared to the consensus earnings per share estimate of 11.560. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Medpace also updated its FY24 guidance to $11.71-12.09 EPS.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. UBS Group downgraded 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 report on Friday, September 27th. TD Cowen lowered their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Guggenheim lowered their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $394.00.
Check Out Our Latest Stock Report on Medpace
Medpace Stock Down 1.2 %
Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. The company had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 earnings per share. On average, equities research analysts forecast that Medpace will post 11.64 EPS 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.
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