Medpace (NASDAQ:MEDP) Posts Quarterly Earnings Results, Beats Estimates By $0.49 EPS

Medpace (NASDAQ:MEDP) issued its quarterly earnings data on Monday. The company reported $4.67 EPS for the quarter, topping the consensus estimate of $4.18 by $0.49, FiscalAI reports. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The company had revenue of $708.45 million during the quarter, compared to analyst estimates of $689.53 million.

Medpace Stock Performance

MEDP stock traded down $11.69 during trading on Monday, reaching $530.35. The company had a trading volume of 770,184 shares, compared to its average volume of 269,681. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.42. Medpace has a twelve month low of $250.05 and a twelve month high of $628.92. The firm has a 50-day simple moving average of $579.45 and a 200-day simple moving average of $539.04.

Wall Street Analyst Weigh In

A number of brokerages have commented on MEDP. BMO Capital Markets started coverage on shares of Medpace in a report on Thursday, November 13th. They set a “market perform” rating and a $600.00 target price for the company. Wall Street Zen upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. TD Cowen reiterated a “sell” rating on shares of Medpace in a research report on Friday, October 24th. Zacks Research downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Barclays boosted their price objective on shares of Medpace from $485.00 to $525.00 and gave the stock an “underweight” rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Medpace has a consensus rating of “Reduce” and a consensus target price of $491.27.

Insiders Place Their Bets

In other Medpace news, VP Susan E. Burwig sold 20,000 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $609.15, for a total transaction of $12,183,000.00. Following the sale, the vice president owned 27,500 shares in the company, valued at approximately $16,751,625. The trade was a 42.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 59,025 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $607.78, for a total value of $35,874,214.50. Following the completion of the transaction, the chief executive officer directly owned 774,602 shares in the company, valued at $470,787,603.56. This represents a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 320,192 shares of company stock valued at $192,909,762 in the last 90 days. 20.30% of the stock is currently owned by company insiders.

Institutional Trading of Medpace

Several large investors have recently made changes to their positions in MEDP. BOKF NA lifted its position in shares of Medpace by 0.8% in the third quarter. BOKF NA now owns 2,542 shares of the company’s stock valued at $1,307,000 after acquiring an additional 20 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Medpace by 3.4% during the second quarter. M&T Bank Corp now owns 939 shares of the company’s stock worth $295,000 after buying an additional 31 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after acquiring an additional 37 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Medpace by 12.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 464 shares of the company’s stock worth $239,000 after purchasing an additional 51 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Medpace by 16.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 405 shares of the company’s stock worth $208,000 after buying an additional 56 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Company Profile

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.