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Medpace: 3Q Earnings Snapshot

·1 min read

CINCINNATI (AP) _ Medpace Holdings Inc. (MEDP) on Monday reported third-quarter earnings of $41.5 million.

The Cincinnati-based company said it had profit of $1.09 per share. Earnings, adjusted for amortization costs, came to $1.13 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The provider of outsourced clinical development services posted revenue of $230.4 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $224.2 million.

Medpace expects full-year earnings to be $3.62 to $3.83 per share, with revenue in the range of $880 million to $920 million.

Medpace shares have increased 39% since the beginning of the year. In the final minutes of trading on Monday, shares hit $116.64, an increase of 54% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MEDP at https://www.zacks.com/ap/MEDP