Medpace (NASDAQ:MEDP – Get Free Report) issued its quarterly earnings results on Monday. The company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75, Briefing.com reports. The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.27 earnings per share. Medpace updated its FY24 guidance to $10.79-11.47 EPS and its FY 2024 guidance to 10.790-11.470 EPS.
Medpace Stock Up 8.2 %
Shares of MEDP opened at $407.15 on Wednesday. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 41.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. Medpace has a 52-week low of $187.03 and a 52-week high of $419.42. The stock has a 50 day moving average price of $397.68 and a 200 day moving average price of $323.14.
Insider Buying and Selling
In other Medpace news, Director Ashley M. Keating sold 250 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the completion of the transaction, the director now owns 250 shares in the company, valued at $102,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the completion of the transaction, the director now owns 250 shares in the company, valued at $102,467.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the transaction, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock valued at $76,651,647 over the last three months. 20.30% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Check Out Our Latest Report on Medpace
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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