Medpace Holdings Announces Strong Q3 Results, Beating Estimates
October 25, 2022
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Medpace Holdings Stock Fair Value – Medpace Holdings ($NASDAQ:MEDP) is a clinical research organization that provides drug development and other services to the pharmaceutical and biotechnology industries. The company today announced strong Q3 results, with GAAP EPS of $2. 05, beating the estimate by $0. 57. This is good news for Medpace, as it continues to grow its business and expand its services.
The company has been able to beat estimates in each of the last four quarters, and this latest quarter is no exception. Looking ahead, Medpace is well positioned to continue its success. The company has a strong pipeline of new business, and its team of experts is highly regarded in the industry. Medpace is a trusted partner for many pharmaceutical and biotechnology companies, and this trust is reflected in its strong financial performance.
Earnings
Medpace Holdings, a leading global contract research organization, announced strong financial results for its fiscal year 2022 second quarter ended June 30. The company reported total revenue of $1286.3 million, up 12.6% from the same period last year. Net income was $209.3 million, up 15.1% from the prior year. Medpace’s strong performance was driven by continued growth in both its core clinical research business and its new Medpace Solutions business.
Medpace Solutions provides a suite of technology-enabled services to help life science companies accelerate drug development. Looking ahead, Medpace expects to continue to benefit from the growing demand for outsourced clinical research services and the launch of new products and services. Medpace is well-positioned to capitalize on these trends and drive continued growth and shareholder value.
Share Price
On Monday, Medpace Holdings announced strong Q3 results, beating estimates. The stock opened at $157.7 and closed at $158.6, up by 1.0% from the previous closing price of 157.1. The company attributed the strong results to its focus on quality and efficiency. Medpace Holdings has a long history of providing high-quality services to its clients, and this commitment has paid off in the form of strong financial results.
Looking ahead, Medpace Holdings is well-positioned to continue its success. The company’s strong Q3 results are a testament to its sound business strategy and execution. With a proven track record of delivering quality services, Medpace Holdings is poised for continued growth and profitability.
VI Analysis – Medpace Holdings Stock Fair Value
VI app makes it easy to analyze a company’s fundamentals and intrinsic value. The intrinsic value of MEDPACE HOLDINGS shares is around $173.3. The stock is currently traded at $158.6, which is a fair price that is undervalued by 8%.
VI Peers
Medpace’s services include clinical trial management, data management, biostatistics, and medical writing. Medpace’s competitors include Icon PLC, Syneos Health Inc, and IQVIA Holdings Inc.
– Icon PLC ($NASDAQ:ICLR)
Icon PLC is a publicly traded company with a market capitalization of $14.59 billion as of March 2022. The company has a return on equity of 4.28%. Icon is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The company has a network of over 80 sites in 40 countries. Icon’s services include clinical research, regulatory affairs, quality management, data management, and biostatistics.
– Syneos Health Inc ($NASDAQ:SYNH)
Synoes Health Inc is a pharmaceutical company with a market cap of 4.81B as of 2022. The company has a Return on Equity of 9.89%. The company develops, manufactures, and sells pharmaceutical products. The company’s products include prescription drugs, over-the-counter drugs, and medical devices. The company operates in the United States, Europe, and Asia.
– IQVIA Holdings Inc ($NYSE:IQV)
IQVIA Holdings Inc is a global healthcare company that provides market research, data, and analytics solutions to help customers drive healthcare transformation and growth. The company’s market cap as of 2022 is 33.49B, and its ROE is 19.29%. IQVIA’s customers include healthcare payers and providers, pharmaceutical and biotech companies, and government agencies. The company’s solutions help its customers drive healthcare transformation by improving patient outcomes, reducing costs, and increasing access to care.
Summary
Investing in Medpace Holdings may be a good idea for investors who are looking for a company with strong financials and a history of beating earnings estimates. The company is expected to continue to grow at a similar rate in the future.
