Medpace Holdings, Inc. to Post Q2 2024 Earnings of $2.43 Per Share, William Blair Forecasts (NASDAQ:MEDP)

Medpace Holdings, Inc. (NASDAQ:MEDP) – William Blair reduced their Q2 2024 earnings estimates for Medpace in a note issued to investors on Tuesday, April 23rd. William Blair analyst M. Smock now anticipates that the company will post earnings of $2.43 per share for the quarter, down from their prior forecast 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 announced 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. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted $2.27 EPS.

A number of other research firms have also recently issued reports on MEDP. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target for the company. Robert W. Baird raised their price target on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. Guggenheim lifted their price objective on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and upped their target price for the company from $340.00 to $450.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $443.00.

Medpace Price Performance

MEDP stock opened at $389.77 on Friday. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 39.73, a P/E/G ratio of 1.98 and a beta of 1.38. The business has a fifty day moving average price of $397.75 and a 200 day moving average price of $324.12. Medpace has a fifty-two week low of $189.30 and a fifty-two week high of $421.00.

Institutional Trading of Medpace

Several hedge funds and other institutional investors have recently modified their holdings of MEDP. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Medpace by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after buying an additional 148 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Medpace by 14.8% in the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after purchasing an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Medpace by 355.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after acquiring an additional 2,774 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Medpace in the 4th quarter worth about $1,992,000. Finally, Chase Investment Counsel Corp lifted its stake in shares of Medpace by 3.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after purchasing an additional 301 shares during the period. Institutional investors own 77.98% of the company’s stock.

Insider Activity at Medpace

In other Medpace news, Director Ashley M. Keating sold 250 shares of the company’s stock in a transaction that occurred on 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 $102,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Medpace news, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the completion of the transaction, the director now directly owns 250 shares of the company’s stock, valued at $102,467.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock worth $76,651,647 in the last ninety days. 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.