Equities Analysts Set Expectations for Medpace Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:MEDP)

Medpace Holdings, Inc. (NASDAQ:MEDP) – Analysts at William Blair lowered their Q2 2024 EPS estimates for Medpace in a report released on Tuesday, April 23rd. William Blair analyst M. Smock now expects that the company will post earnings of $2.43 per share for the quarter, down from their previous estimate of $2.57. The consensus estimate for Medpace’s current full-year earnings is $11.23 per share. William Blair also issued estimates for Medpace’s Q3 2024 earnings at $2.63 EPS, Q4 2024 earnings at $2.81 EPS, Q2 2025 earnings at $3.04 EPS, Q3 2025 earnings at $3.14 EPS and Q4 2025 earnings at $3.36 EPS.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.75. The firm 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 59.74%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 earnings per share.

A number of other research firms have also commented on MEDP. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and raised their price objective for the stock from $340.00 to $450.00 in a research note on Tuesday. Robert W. Baird raised their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective for the company. UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Medpace currently has an average rating of “Moderate Buy” and a consensus price target of $443.00.

Medpace Stock Performance

Medpace stock opened at $395.93 on Friday. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. Medpace has a 1 year low of $189.30 and a 1 year high of $421.00. The firm’s 50 day moving average price is $397.83 and its two-hundred day moving average price is $325.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MEDP. Wellington Management Group LLP raised its holdings in shares of Medpace by 312.6% during the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after purchasing an additional 319,210 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Medpace by 195.2% during the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Medpace by 67.6% during the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after purchasing an additional 246,775 shares in the last quarter. Norges Bank bought a new position in shares of Medpace during the 4th quarter valued at $59,163,000. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Medpace by 82.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after purchasing an additional 159,144 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Insider Buying and Selling at Medpace

In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the sale, the insider now owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction of $41,106.00. Following the transaction, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the transaction, the insider now owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. Insiders sold 189,340 shares of company stock valued at $76,651,647 in the last quarter. Company insiders own 20.30% of the company’s stock.

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.