Brokers Set Expectations for Medpace Holdings, Inc.’s FY2024 Earnings (NASDAQ:MEDP)

Medpace Holdings, Inc. (NASDAQ:MEDP) – Equities researchers at William Blair increased their FY2024 earnings per share estimates for shares of Medpace in a research report issued on Monday, May 13th. William Blair analyst M. Smock now anticipates that the company will post earnings per share of $11.25 for the year, up from their prior estimate of $11.07. The consensus estimate for Medpace’s current full-year earnings is $11.23 per share. William Blair also issued estimates for Medpace’s FY2025 earnings at $13.18 EPS.

MEDP has been the topic of several other reports. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and upped their price objective for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Robert W. Baird raised their price target on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Guggenheim increased their target price on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $443.00.

Medpace Stock Performance

MEDP opened at $398.52 on Tuesday. Medpace has a twelve month low of $197.39 and a twelve month high of $421.00. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 1.94 and a beta of 1.40. The firm’s 50-day simple moving average is $397.09 and its 200-day simple moving average is $339.13.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. During the same period in the prior year, the firm posted $2.27 EPS. Medpace’s quarterly revenue was up 17.7% compared to the same quarter last year.

Insider Activity

In other news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $391.75, for a total value of $19,587,500.00. Following the transaction, the insider now directly owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ashley M. Keating sold 250 shares of the company’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 owns 250 shares of the company’s stock, valued at approximately $102,467.50. The disclosure for this sale can be found here. Insiders have sold 209,224 shares of company stock valued at $84,618,441 over the last 90 days. 20.30% of the stock is owned by company insiders.

Institutional Trading of Medpace

A number of large investors have recently made changes to their positions in the company. 1832 Asset Management L.P. acquired a new position in shares of Medpace in the 1st quarter valued at approximately $6,911,000. Quadrature Capital Ltd lifted its stake in Medpace by 117.9% in the first quarter. Quadrature Capital Ltd now owns 30,381 shares of the company’s stock valued at $12,274,000 after buying an additional 16,440 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Medpace by 15.9% in the first quarter. Canada Pension Plan Investment Board now owns 67,800 shares of the company’s stock valued at $27,401,000 after buying an additional 9,300 shares during the period. Heron Bay Capital Management bought a new stake in shares of Medpace during the first quarter worth $260,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Medpace by 106.4% during the first quarter. Advisors Asset Management Inc. now owns 2,735 shares of the company’s stock worth $1,105,000 after acquiring an additional 1,410 shares during the period. Institutional investors own 77.98% 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.