Medpace (NASDAQ:MEDP – Get Free Report) announced its quarterly earnings data on Monday. The company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75, Briefing.com reports. Medpace had a net margin of 15.92% and a return on equity of 65.98%. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. During the same quarter last year, the business posted $2.27 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Medpace updated its FY24 guidance to $10.79-11.47 EPS and its FY 2024 guidance to 10.790-11.470 EPS.
Medpace Stock Up 8.2 %
NASDAQ MEDP opened at $407.15 on Wednesday. The firm has a market cap of $12.61 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. The company has a 50 day moving average price of $397.68 and a 200 day moving average price of $323.14. Medpace has a 52 week low of $187.03 and a 52 week high of $419.42.
Insider Buying and Selling
In related news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the transaction, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Medpace Investors, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the transaction, the insider now owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock worth $76,651,647 in the last 90 days. 20.30% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on MEDP
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.
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