FY2024 Earnings Forecast for Medpace Issued By William Blair

Medpace Holdings, Inc. (NASDAQ:MEDP) – Equities researchers at William Blair boosted their FY2024 earnings per share estimates for shares of Medpace in a research note issued to investors on Tuesday, October 22nd. William Blair analyst M. Smock now expects that the company will post earnings of $11.83 per share for the year, up from their previous estimate of $11.55. William Blair has a “Outperform” rating on the stock. The consensus estimate for Medpace’s current full-year earnings is $11.64 per share. William Blair also issued estimates for Medpace’s Q1 2025 earnings at $2.92 EPS, Q3 2025 earnings at $3.18 EPS, Q4 2025 earnings at $3.19 EPS and FY2025 earnings at $12.35 EPS.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.22 earnings per share.

MEDP has been the subject of several other reports. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday. TD Cowen lowered their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Redburn Atlantic initiated coverage on shares of Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Medpace currently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Price Performance

Shares of Medpace stock opened at $328.08 on Thursday. Medpace has a 1 year low of $239.00 and a 1 year high of $459.77. The company has a 50-day moving average of $352.59 and a 200 day moving average of $381.83. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.77 and a beta of 1.35.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MEDP. Mather Group LLC. bought a new position in Medpace in the first quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new position in shares of Medpace in the 1st quarter worth approximately $31,000. DT Investment Partners LLC purchased a new position in shares of Medpace in the second quarter worth approximately $41,000. J.Safra Asset Management Corp boosted its holdings in shares of Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Medpace during the second quarter valued at approximately $52,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

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.