Medpace (NASDAQ:MEDP) Releases Earnings Results, Beats Expectations By $0.40 EPS

Medpace (NASDAQ:MEDP) posted its quarterly earnings results on Wednesday. The company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.40, FiscalAI reports. Medpace had a net margin of 17.67% and a return on equity of 110.15%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million.

Medpace Price Performance

Shares of NASDAQ MEDP traded up $40.05 during midday trading on Wednesday, reaching $662.48. 1,023,695 shares of the stock were exchanged, compared to its average volume of 329,588. Medpace has a 12 month low of $373.00 and a 12 month high of $677.90. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 38.83, a P/E/G ratio of 2.76 and a beta of 1.18. The business has a 50-day simple moving average of $607.09 and a two-hundred day simple moving average of $534.49.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $535.00 price objective on shares of Medpace in a research note on Thursday, July 23rd. Jefferies Financial Group reiterated a “hold” rating on shares of Medpace in a research report on Monday, September 14th. Royal Bank Of Canada increased their price target on Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Mizuho raised their price target on Medpace from $665.00 to $700.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 7th. Finally, Robert W. Baird raised their price target on Medpace from $547.00 to $624.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Medpace has a consensus rating of “Hold” and a consensus target price of $607.73.

Insider Activity at Medpace

In related news, CEO August Troendle sold 21,966 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $625.47, for a total transaction of $13,739,074.02. Following the sale, the chief executive officer owned 338,225 shares of the company’s stock, valued at approximately $211,549,590.75. This trade represents a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 336,140 shares of company stock valued at $208,008,328. 20.50% of the stock is owned by corporate insiders.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.