Medpace (MEDP) Scheduled to Post Earnings on Monday

Medpace (NASDAQ:MEDP) will be releasing its earnings data after the market closes on Monday, October 21st. Analysts expect Medpace to post earnings of $2.78 per share for the quarter. Medpace has set its FY24 guidance at $11.24-11.93 EPS and its FY 2024 guidance at 11.240-11.930 EPS.Persons that are interested in registering for the company’s conference call can do so using this link.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the business earned $1.93 EPS. On average, analysts expect Medpace to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Medpace Price Performance

NASDAQ MEDP opened at $356.40 on Friday. The company has a fifty day moving average price of $356.43 and a 200-day moving average price of $383.50. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 1.77 and a beta of 1.35. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77.

Analyst Ratings Changes

Several research firms have commented on MEDP. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $420.00 to $350.00 in a research note on Friday, September 27th. TD Cowen decreased their price target on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Robert W. Baird decreased their target price on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Truist Financial cut their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Medpace currently has an average rating of “Moderate Buy” and an average price target of $394.00.

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.