Medpace Holdings, Inc. Expected to Earn Q2 2024 Earnings of $2.43 Per Share (NASDAQ:MEDP)

Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) - William Blair decreased their Q2 2024 EPS estimates for Medpace in a report issued on Tuesday, April 23rd. William Blair analyst M. Smock now anticipates that the company will post earnings per share of $2.43 for the quarter, down from their prior forecast of $2.57. The consensus estimate for Medpace's current full-year earnings is $11.23 per share. William Blair also issued estimates for Medpace's Q3 2024 earnings at $2.63 EPS, Q4 2024 earnings at $2.81 EPS, Q2 2025 earnings at $3.04 EPS, Q3 2025 earnings at $3.14 EPS and Q4 2025 earnings at $3.36 EPS.

Other equities research analysts also recently issued research reports about the company. Guggenheim upped their target price on Medpace from $453.00 to $464.00 and gave the stock a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a research note on Monday, March 18th. They set a "hold" rating and a $395.00 price objective on the stock. Jefferies Financial Group upgraded shares of Medpace from a "hold" rating to a "buy" rating and upped their target price for the company from $340.00 to $450.00 in a research note on Tuesday. UBS Group raised shares of Medpace from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Robert W. Baird upped their price objective on shares of Medpace from $446.00 to $454.00 and gave the company an "outperform" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $443.00.

Medpace Price Performance

NASDAQ MEDP traded up $6.16 during trading hours on Friday, hitting $395.93. The company had a trading volume of 144,670 shares, compared to its average volume of 250,817. The firm's 50 day moving average is $397.83 and its 200 day moving average is $325.15. Medpace has a fifty-two week low of $189.30 and a fifty-two week high of $421.00. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 1.98 and a beta of 1.38.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. During the same period in the previous year, the firm earned $2.27 earnings per share. Medpace's revenue for the quarter was up 17.7% on a year-over-year basis.

Institutional Trading of Medpace

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Medpace by 312.6% in the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company's stock worth $102,013,000 after buying an additional 319,210 shares during the period. TD Asset Management Inc increased its holdings in shares of Medpace by 195.2% in the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company's stock worth $143,162,000 after acquiring an additional 308,816 shares during the period. Invesco Ltd. increased its holdings in shares of Medpace by 67.6% in the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company's stock worth $148,159,000 after acquiring an additional 246,775 shares during the period. Norges Bank bought a new stake in Medpace in the 4th quarter valued at about $59,163,000. Finally, Epoch Investment Partners Inc. boosted its stake in Medpace by 82.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company's stock valued at $108,040,000 after purchasing an additional 159,144 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Medpace Investors, Llc sold 50,000 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $391.75, for a total value of $19,587,500.00. Following the completion of the sale, the insider now directly owns 5,539,947 shares of the company's stock, valued at $2,170,274,237.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Susan E. Burwig sold 102 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares of the company's stock, valued at approximately $6,117,943. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the transaction, the insider now directly owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is currently owned by corporate insiders.

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.