Medpace (NASDAQ:MEDP – Get Free Report) posted its quarterly earnings data on Monday. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75, Briefing.com reports. Medpace had a return on equity of 65.98% and a net margin of 15.92%. The firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter last year, the firm earned $2.27 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. 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 stock opened at $407.15 on Wednesday. The stock has a market cap of $12.61 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. The business has a 50-day simple moving average of $397.68 and a 200-day simple moving average of $323.14. Medpace has a 52-week low of $187.03 and a 52-week high of $419.42.
Insider Activity
In other news, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ashley M. Keating sold 250 shares of Medpace stock in a transaction dated 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 approximately $102,467.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of Medpace stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. 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 in the last quarter. 20.30% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Check Out Our Latest Report on MEDP
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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