Medpace (NASDAQ:MEDP) Updates FY24 Earnings Guidance

by · The Markets Daily

Medpace (NASDAQ:MEDP – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $11.71-12.09 for the period, compared to the consensus earnings per share estimate of $11.59. The company issued revenue guidance of $2.09-2.13 billion, compared to the consensus revenue estimate of $2.13 billion.

Analyst Ratings Changes

Several brokerages have issued reports on MEDP. TD Cowen lowered their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Truist Financial lowered their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Robert W. Baird lowered their price target on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Finally, UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Moderate Buy” and an average target price of $394.00.

Read Our Latest Stock Report on Medpace

Medpace Trading Down 1.0 %

NASDAQ MEDP traded down $3.69 during trading on Monday, reaching $352.71. The company’s stock had a trading volume of 596,547 shares, compared to its average volume of 266,246. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. Medpace has a 12 month low of $227.21 and a 12 month high of $459.77. The firm has a 50 day moving average price of $356.43 and a 200 day moving average price of $383.35.

Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business’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 firm posted $1.93 EPS. On average, equities analysts forecast that Medpace will post 11.64 EPS for the current fiscal year.

Medpace Company Profile

(Get Free Report)

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.

Recommended Stories