Medpace (NASDAQ:MEDP) Posts Quarterly Earnings Results, Beats Estimates By $0.49 EPS

by · The Markets Daily

Medpace (NASDAQ:MEDPGet Free Report) posted its earnings results on Monday. The company reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.49, FiscalAI reports. The business had revenue of $708.45 million during the quarter, compared to the consensus estimate of $689.53 million. Medpace had a net margin of 18.36% and a return on equity of 91.88%.

Medpace Stock Down 2.2%

Shares of MEDP stock traded down $11.69 on Monday, hitting $530.35. The company had a trading volume of 685,213 shares, compared to its average volume of 260,712. The company has a 50-day moving average price of $579.45 and a 200-day moving average price of $539.04. Medpace has a twelve month low of $250.05 and a twelve month high of $628.92. The firm has a market cap of $14.94 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.42.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MEDP. Truist Financial set a $555.00 price target on shares of Medpace in a research report on Monday, October 27th. Zacks Research cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “buy (b)” rating on shares of Medpace in a research report on Wednesday, January 28th. Barclays increased their target price on shares of Medpace from $485.00 to $525.00 and gave the stock an “underweight” rating in a report on Monday, December 15th. Finally, TD Cowen reaffirmed a “sell” rating on shares of Medpace in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $491.27.

Check Out Our Latest Research Report on MEDP

Insider Activity at Medpace

In other Medpace news, CFO Kevin M. Brady sold 3,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $590.35, for a total value of $1,771,050.00. Following the sale, the chief financial officer owned 6,000 shares of the company’s stock, valued at approximately $3,542,100. This represents a 33.33% decrease in their ownership of the stock. 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 668 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $590.69, for a total transaction of $394,580.92. Following the sale, the chief executive officer directly owned 646,184 shares of the company’s stock, valued at $381,694,426.96. This represents a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 320,192 shares of company stock worth $192,909,762. Company insiders own 20.30% of the company’s stock.

Institutional Trading of Medpace

Hedge funds and other institutional investors have recently modified their holdings of the business. Sivia Capital Partners LLC bought a new stake in shares of Medpace during the 2nd quarter worth approximately $296,000. PharVision Advisers LLC bought a new position in Medpace during the third quarter valued at $230,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Medpace by 16.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 405 shares of the company’s stock worth $208,000 after buying an additional 56 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of Medpace in the 3rd quarter worth $209,000. Finally, Knollwood Investment Advisory LLC bought a new stake in shares of Medpace in the 3rd quarter valued at about $270,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Company Profile

(Get Free Report)

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.

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