Medpace (MEDP) to Release Earnings on Monday

Medpace (NASDAQ:MEDP) is scheduled to be posting its quarterly earnings results 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.Investors that are interested in registering for the company’s conference call can do so using this link.

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

Medpace Stock Performance

NASDAQ MEDP opened at $372.00 on Friday. Medpace has a one year low of $185.43 and a one year high of $419.42. The stock has a 50-day moving average of $395.78 and a 200 day moving average of $319.96. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 41.89, a PEG ratio of 2.02 and a beta of 1.38.

Analysts Set New Price Targets

Several research analysts have issued reports on MEDP shares. Deutsche Bank Aktiengesellschaft started 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. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and raised their target price for the stock from $282.00 to $452.00 in a research report on Thursday, February 15th. Finally, Robert W. Baird raised their target price on Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $382.00.

Insiders Place Their Bets

In other Medpace 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 value of $41,298,000.00. Following the sale, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 in the last quarter. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medpace

Several large investors have recently modified their holdings of MEDP. Altshuler Shaham Ltd bought a new position in Medpace in the 4th quarter valued at $27,000. Rockefeller Capital Management L.P. grew its position in Medpace by 361.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 143 shares of the company’s stock valued at $30,000 after acquiring an additional 112 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Medpace in the 2nd quarter valued at $42,000. Bartlett & CO. Wealth Management LLC grew its position in Medpace by 133.3% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 175 shares of the company’s stock valued at $54,000 after acquiring an additional 100 shares during the last quarter. Finally, Stephens Inc. AR grew its position in Medpace by 121.4% in the 4th quarter. Stephens Inc. AR now owns 186 shares of the company’s stock valued at $57,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 77.98% 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.