Medpace (NASDAQ:MEDP) Updates FY 2022 Earnings Guidance

Medpace (NASDAQ:MEDPGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $5.720-$6.060 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.610. The company issued revenue guidance of $1.40 billion-$1.46 billion, compared to the consensus revenue estimate of $1.41 billion.

Shares of NASDAQ MEDP traded down $5.34 on Monday, hitting $148.00. The company had a trading volume of 597,192 shares, compared to its average volume of 326,906. Medpace has a 12-month low of $136.80 and a 12-month high of $231.00. The business has a 50 day moving average of $154.84 and a two-hundred day moving average of $184.54. The firm has a market capitalization of $4.98 billion, a P/E ratio of 30.74 and a beta of 1.48.

Medpace (NASDAQ:MEDPGet Rating) last issued its earnings results on Sunday, February 13th. The company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.07. Medpace had a return on equity of 20.55% and a net margin of 15.92%. The company had revenue of $308.55 million during the quarter, compared to the consensus estimate of $309.03 million. During the same quarter in the prior year, the business earned $1.39 earnings per share. The company’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts predict that Medpace will post 5.57 EPS for the current year.

MEDP has been the subject of several analyst reports. Robert W. Baird upped their target price on Medpace from $160.00 to $175.00 in a research report on Thursday, March 17th. StockNews.com began coverage on Medpace in a report on Thursday, March 31st. They issued a buy rating for the company. Finally, Zacks Investment Research downgraded Medpace from a buy rating to a hold rating in a report on Saturday, February 19th.

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in Medpace by 27.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 318,713 shares of the company’s stock worth $69,365,000 after purchasing an additional 69,066 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Medpace by 47.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 11,425 shares of the company’s stock worth $2,486,000 after purchasing an additional 3,698 shares during the period. Zacks Investment Management acquired a new position in Medpace in the fourth quarter worth $470,000. Virtu Financial LLC acquired a new position in Medpace in the fourth quarter worth $449,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in Medpace by 2.5% in the fourth quarter. Parametric Portfolio Associates LLC now owns 79,387 shares of the company’s stock worth $17,278,000 after purchasing an additional 1,928 shares during the period. Institutional investors own 96.88% of the company’s stock.

Medpace Company Profile (Get Rating)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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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Earnings History and Estimates for Medpace (NASDAQ:MEDP)

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