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Medpace (MEDP) Surges 9.1%: Is This an Indication of Further Gains?
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Medpace (MEDP - Free Report) shares ended the last trading session 9.1% higher at $302.56. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.9% loss over the past four weeks.
Medpace recorded a strong price rise on investors’ optimism surrounding its impending first-quarter 2025 financial results, which is slated to release on April 21 post the closing bell. The Zacks Consensus Estimate for the first quarter revenue suggests a growth of 3.8%.
This provider of outsourced clinical development services is expected to post quarterly earnings of $3.05 per share in its upcoming report, which represents a year-over-year change of -4.7%. Revenues are expected to be $530.62 million, up 3.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Medpace, the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MEDP going forward to see if this recent jump can turn into more strength down the road.
Medpace is a member of the Zacks Medical Services industry. One other stock in the same industry, Cencora (COR - Free Report) , finished the last trading session 0.3% lower at $273.89. COR has returned 5.4% over the past month.
For Cencora, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.07. This represents a change of +7.1% from what the company reported a year ago. Cencora currently has a Zacks Rank of #2 (Buy).
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Medpace (MEDP) Surges 9.1%: Is This an Indication of Further Gains?
Medpace (MEDP - Free Report) shares ended the last trading session 9.1% higher at $302.56. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.9% loss over the past four weeks.
Medpace recorded a strong price rise on investors’ optimism surrounding its impending first-quarter 2025 financial results, which is slated to release on April 21 post the closing bell. The Zacks Consensus Estimate for the first quarter revenue suggests a growth of 3.8%.
This provider of outsourced clinical development services is expected to post quarterly earnings of $3.05 per share in its upcoming report, which represents a year-over-year change of -4.7%. Revenues are expected to be $530.62 million, up 3.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Medpace, the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MEDP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Medpace is a member of the Zacks Medical Services industry. One other stock in the same industry, Cencora (COR - Free Report) , finished the last trading session 0.3% lower at $273.89. COR has returned 5.4% over the past month.
For Cencora, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.07. This represents a change of +7.1% from what the company reported a year ago. Cencora currently has a Zacks Rank of #2 (Buy).