Medpace (NASDAQ:MEDP – Get Free Report) announced its quarterly earnings results on Monday. The company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.75, Briefing.com reports. 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 65.98%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.27 EPS. Medpace updated its FY24 guidance to $10.79-11.47 EPS and its FY 2024 guidance to 10.790-11.470 EPS.
Medpace Stock Performance
NASDAQ:MEDP opened at $407.15 on Wednesday. The firm has a market cap of $12.61 billion, a P/E ratio of 41.50, a P/E/G ratio of 1.99 and a beta of 1.38. Medpace has a fifty-two week low of $187.03 and a fifty-two week high of $419.42. The firm has a 50-day simple moving average of $397.68 and a two-hundred day simple moving average of $323.14.
Insider Buying and Selling at Medpace
In other news, CEO August J. Troendle sold 100,000 shares of Medpace stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO August J. Troendle sold 100,000 shares of Medpace stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now owns 15,181 shares of the company’s stock, valued at $6,117,943. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Read Our Latest Report 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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