Medpace (MEDP) Scheduled to Post Earnings on Monday

Medpace (NASDAQ:MEDP) will issue its quarterly earnings data after the market closes on Monday, October 21st. Analysts expect the company to announce 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 interested in listening to the company’s earnings conference call can do so using this link.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. During the same quarter last year, the firm posted $1.93 EPS. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, analysts expect Medpace to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Medpace Trading Up 0.9 %

NASDAQ MEDP opened at $347.91 on Monday. The company has a fifty day simple moving average of $359.26 and a 200 day simple moving average of $385.18. Medpace has a 12-month low of $227.21 and a 12-month high of $459.77. The company has a market cap of $10.78 billion, a P/E ratio of 35.46, a PEG ratio of 1.77 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MEDP. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. TD Cowen dropped their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Finally, Guggenheim lowered their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $395.00.

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.