Medpace (NASDAQ:MEDP – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 10.790-11.470 for the period, compared to the consensus EPS estimate of 10.610. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Medpace also updated its FY24 guidance to $10.79-11.47 EPS.
Medpace Stock Up 0.4 %
NASDAQ MEDP traded up $1.66 during trading hours on Wednesday, reaching $408.81. 94,293 shares of the company were exchanged, compared to its average volume of 247,060. The stock has a market capitalization of $12.66 billion, a P/E ratio of 41.50, a P/E/G ratio of 1.99 and a beta of 1.38. Medpace has a 1 year low of $189.30 and a 1 year high of $421.00. The business’s 50 day simple moving average is $397.68 and its 200-day simple moving average is $323.14.
Medpace (NASDAQ:MEDP – Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. During the same period last year, the business earned $2.27 earnings per share. Medpace’s revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Medpace will post 10.53 earnings per share for the current year.
Analyst Upgrades and Downgrades
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Insider Activity at Medpace
In other news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Susan E. Burwig sold 102 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the transaction, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the transaction, the chief executive officer now 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 worth $76,651,647 over the last quarter. Corporate insiders own 20.30% 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.
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