Medpace (MEDP) to Release Earnings on Monday

Posted by on Jul 17th, 2023

Medpace (NASDAQ:MEDP – Get Free Report) will be posting its quarterly earnings results after the market closes on Monday, July 24th. Analysts expect Medpace to post earnings of $1.89 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Medpace (NASDAQ:MEDP – Get Free Report) last issued its quarterly earnings results on Monday, April 24th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.51. Medpace had a return on equity of 75.20% and a net margin of 16.44%. The firm had revenue of $434.07 million for the quarter, compared to the consensus estimate of $402.83 million. During the same period in the prior year, the business posted $1.69 earnings per share. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, analysts expect Medpace to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Medpace Trading Up 1.2 %

Shares of NASDAQ:MEDP opened at $243.21 on Monday. Medpace has a 12-month low of $141.30 and a 12-month high of $244.61. The company has a market capitalization of $7.42 billion, a PE ratio of 30.79 and a beta of 1.43. The business’s fifty day simple moving average is $219.88 and its 200-day simple moving average is $209.74.

Wall Street Analyst Weigh In

MEDP has been the topic of several research reports. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Guggenheim upgraded shares of Medpace from a “neutral” rating to a “buy” rating and set a $252.00 target price for the company in a research note on Monday, May 8th. Finally, 22nd Century Group reissued an “upgrade” rating on shares of Medpace in a report on Monday, May 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Medpace currently has an average rating of “Moderate Buy” and an average target price of $241.00.

Insiders Place Their Bets

In related news, CEO August J. Troendle sold 49,347 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the completion of the transaction, the chief executive officer now owns 6,233,019 shares in the company, valued at $1,376,562,246.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO August J. Troendle sold 31,648 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $221.83, for a total value of $7,020,475.84. Following the transaction, the chief executive officer now owns 6,451,371 shares in the company, valued at approximately $1,431,107,628.93. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 49,347 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the sale, the chief executive officer now directly owns 6,233,019 shares in the company, valued at approximately $1,376,562,246.15. The disclosure for this sale can be found here. 25.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medpace

A number of hedge funds and other institutional investors have recently modified their holdings of MEDP. Creative Planning grew its position in Medpace by 1.9% during the second quarter. Creative Planning now owns 3,110 shares of the company’s stock valued at $465,000 after acquiring an additional 58 shares during the period. LPL Financial LLC raised its holdings in shares of Medpace by 1.0% during the first quarter. LPL Financial LLC now owns 10,298 shares of the company’s stock valued at $1,937,000 after buying an additional 100 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Medpace by 361.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 143 shares of the company’s stock worth $30,000 after purchasing an additional 112 shares in the last quarter. Centaurus Financial Inc. raised its position in Medpace by 10.7% in the first quarter. Centaurus Financial Inc. now owns 1,297 shares of the company’s stock worth $244,000 after acquiring an additional 125 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Medpace during the 4th quarter worth about $27,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

About Medpace

(Get Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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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Earnings History for Medpace (NASDAQ:MEDP)

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