Medpace (NASDAQ:MEDP – Get Free Report) posted its quarterly earnings results on Monday. The company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75, Briefing.com reports. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $512.39 million. During the same quarter in the prior year, the business earned $2.27 EPS. The firm’s revenue for the quarter 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 Performance
MEDP opened at $397.56 on Thursday. The firm has a market cap of $12.32 billion, a P/E ratio of 40.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. Medpace has a 52-week low of $189.30 and a 52-week high of $421.00. The business’s fifty day moving average is $397.84 and its 200-day moving average is $323.66.
Insider Transactions at Medpace
In other news, VP Susan E. Burwig sold 102 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Susan E. Burwig sold 102 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $409.87, for a total value of $102,467.50. Following the completion of the sale, the director now directly owns 250 shares in the company, valued at $102,467.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,340 shares of company stock valued at $76,651,647. 20.30% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on MEDP
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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