Medpace (MEDP) Set to Announce Quarterly Earnings on Monday

Medpace (NASDAQ:MEDP) is set to release 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.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. The company 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 quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.93 earnings per share. 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

Shares of NASDAQ MEDP opened at $356.40 on Friday. Medpace has a 1 year low of $227.21 and a 1 year high of $459.77. The firm has a market cap of $11.04 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. The company has a 50 day simple moving average of $356.43 and a 200 day simple moving average of $383.50.

Analyst Ratings Changes

Several analysts recently weighed in on MEDP shares. Redburn Atlantic assumed coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective on the stock. Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and reduced their target price for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, TD Cowen dropped their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.