Medpace (NASDAQ:MEDP – Get Free Report) released its quarterly earnings results on Monday. The company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.75, Briefing.com reports. The firm had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.27 earnings per share. Medpace updated its FY24 guidance to $10.79-11.47 EPS and its FY 2024 guidance to 10.790-11.470 EPS.
Medpace Stock Up 1.1 %
NASDAQ MEDP opened at $376.26 on Tuesday. The company has a 50-day simple moving average of $396.82 and a two-hundred day simple moving average of $322.00. Medpace has a 12-month low of $187.03 and a 12-month high of $419.42. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 42.37, a PEG ratio of 1.97 and a beta of 1.38.
Insider Buying and Selling at Medpace
In other Medpace news, VP Susan E. Burwig sold 102 shares of the company’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 directly owns 15,181 shares in the company, valued at $6,117,943. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Susan E. Burwig sold 102 shares of the 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 directly owns 15,181 shares in the company, valued at $6,117,943. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the 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 sale, the insider now owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock worth $76,651,647 over the last three months. Company insiders own 20.30% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on Medpace
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.
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