Medpace (NASDAQ:MEDP – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 11.710-12.090 for the period, compared to the consensus EPS estimate of 11.560. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Medpace also updated its FY24 guidance to $11.71-12.09 EPS.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on MEDP. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft reduced their price target on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Truist Financial reduced their price target on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $380.00.
View Our Latest Analysis on Medpace
Medpace Stock Performance
Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. During the same quarter in the prior year, the business earned $2.22 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts anticipate that Medpace will post 11.64 earnings per share for the current fiscal year.
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.
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