Medpace (NASDAQ:MEDP) Releases FY24 Earnings Guidance

Medpace (NASDAQ:MEDP) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $11.71-12.09 for the period, compared to the consensus EPS estimate of $11.59. The company issued revenue guidance of $2.09-2.13 billion, compared to the consensus revenue estimate of $2.13 billion.

Medpace Price Performance

Shares of NASDAQ:MEDP traded down $4.15 during trading hours on Monday, hitting $352.25. 670,794 shares of the company’s stock traded hands, compared to its average volume of 266,611. The business has a fifty day moving average price of $356.43 and a 200-day moving average price of $383.35. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The firm has a market capitalization of $10.91 billion, a P/E ratio of 36.02, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same quarter last year, the firm posted $1.93 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. As a group, equities analysts predict that Medpace will post 11.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MEDP has been the subject of several research reports. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird dropped their price target on Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Finally, UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $394.00.

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.