Medpace (NASDAQ:MEDP – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $11.24-11.93 for the period, compared to the consensus EPS estimate of $11.27. The company issued revenue guidance of $2.125-2.175 billion, compared to the consensus revenue estimate of $2.17 billion. Medpace also updated its FY 2024 guidance to 11.240-11.930 EPS.
Medpace Stock Up 6.9 %
MEDP stock opened at $381.88 on Thursday. The business has a 50 day moving average of $404.81 and a 200 day moving average of $381.66. Medpace has a twelve month low of $227.21 and a twelve month high of $459.77. The firm has a market cap of $11.83 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.36.
Medpace (NASDAQ:MEDP – Get Free Report) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 59.91%. Medpace’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 EPS. On average, research analysts expect that Medpace will post 11.33 earnings per share for the current fiscal year.
Analyst Ratings Changes
Insider Transactions at Medpace
In related news, 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 value of $6,051,220.38. Following the completion of the sale, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO August J. Troendle sold 3,987 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the completion of the sale, the chief executive officer now owns 660,351 shares in the company, valued at $260,983,922.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly 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 29,621 shares of company stock worth $11,816,852 in the last 90 days. 20.30% of the stock is currently owned by 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.
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