Medpace (NASDAQ:MEDP – Get Free Report) released its quarterly earnings data on Monday. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21, Briefing.com reports. The company had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 59.91% and a net margin of 16.74%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. Medpace updated its FY24 guidance to $11.24-11.93 EPS and its FY 2024 guidance to 11.240-11.930 EPS.
Medpace Trading Up 6.9 %
MEDP traded up $24.58 during mid-day trading on Wednesday, hitting $381.88. 1,186,268 shares of the stock were exchanged, compared to its average volume of 241,739. The firm’s fifty day moving average is $405.29 and its two-hundred day moving average is $381.65. Medpace has a 1-year low of $227.21 and a 1-year high of $459.77. The company has a market cap of $11.83 billion, a PE ratio of 38.98, a PEG ratio of 2.16 and a beta of 1.36.
Insider Buying and Selling
In related news, CEO August J. Troendle sold 15,102 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the transaction, the chief executive officer now owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO August J. Troendle sold 15,102 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the transaction, the chief executive officer now owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO August J. Troendle sold 4,782 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total value of $1,915,573.56. Following the transaction, the chief executive officer now directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,621 shares of company stock valued at $11,816,852. Corporate insiders own 20.30% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Medpace
About Medpace
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.
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