Bank of New York Mellon Corp ve 2. čtvrtletí koupila nový podíl ve společnosti Medpace za zhruba 77,6 milionu USD a vlastnila 0,53 % společnosti. Medpace zároveň oznámila zisk na akcii 4,25 USD a tržby 707,33 milionu USD, obojí nad odhady.
Bank of New York Mellon Corp bought a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 146,588 shares of the company’s stock, valued at approximately $77,632,000. Bank of New York Mellon Corp owned 0.53% of Medpace as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in MEDP. Focus Partners Advisor Solutions LLC acquired a new stake in Medpace during the second quarter valued at approximately $1,685,000. State of Wyoming acquired a new position in shares of Medpace in the 2nd quarter worth approximately $88,000. GSA Capital Partners LLP bought a new position in shares of Medpace during the 2nd quarter worth approximately $208,000. MGO One Seven LLC boosted its stake in Medpace by 7.1% in the 2nd quarter. MGO One Seven LLC now owns 968 shares of the company’s stock valued at $513,000 after buying an additional 64 shares in the last quarter. Finally, Associated Banc Corp acquired a new stake in Medpace in the 2nd quarter valued at $204,000. Institutional investors and hedge funds own 77.98% of the company’s stock.
Medpace Stock Down 1.0% Shares of NASDAQ MEDP opened at $614.06 on Wednesday. Medpace Holdings, Inc. has a 12-month low of $373.00 and a 12-month high of $677.90. The firm’s 50-day simple moving average is $556.26 and its 200 day simple moving average is $492.77. The company has a market cap of $17.14 billion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15.
Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.27. Medpace had a net margin of 17.67% and a return on equity of 110.15%. The firm had revenue of $707.33 million during the quarter, compared to analysts’ expectations of $689.51 million. During the same quarter last year, the company posted $3.10 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. Medpace has set its FY 2026 guidance at 17.250-17.950 EPS. On average, equities analysts expect that Medpace Holdings, Inc. will post 17.54 earnings per share for the current year. Insiders Place Their Bets In related news, CFO Kevin M. Brady sold 3,400 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $625.24, for a total value of $2,125,816.00. Following the completion of the transaction, the chief financial officer owned 12,830 shares in the company, valued at $8,021,829.20. The trade was a 20.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cornelius P. Mccarthy III sold 1,140 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $605.37, for a total transaction of $690,121.80. Following the completion of the transaction, the director owned 12,275 shares of the company’s stock, valued at $7,430,916.75. This trade represents a 8.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 141,639 shares of company stock valued at $83,824,038 over the last quarter. Company insiders own 20.50% of the company’s stock.
Wall Street Analyst Weigh In MEDP has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on Medpace from $547.00 to $624.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and upped their target price for the stock from $490.00 to $515.00 in a report on Tuesday, July 7th. BMO Capital Markets increased their target price on shares of Medpace from $400.00 to $600.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. TD Cowen lifted their price target on shares of Medpace from $419.00 to $492.00 and gave the company a “hold” rating in a report on Friday, July 24th. Finally, Mizuho boosted their price target on shares of Medpace from $586.00 to $665.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Medpace presently has an average rating of “Hold” and an average price target of $584.18.
Get Our Latest Report on Medpace
Key Headlines Impacting Medpace Here are the key news stories impacting Medpace this week:
Positive Sentiment: Medpace’s latest quarterly results were strong: earnings of $4.25 per share exceeded the $3.98 consensus estimate, while revenue rose 17.2% year over year to $707.33 million, ahead of expectations. Management’s fiscal 2026 EPS guidance is $17.25–$17.95. Institutional ownership is also high at approximately 78%, with several large investors adding positions. Neutral Sentiment: Reported short interest was listed at zero shares, with a zero-day days-to-cover ratio. Because the figures show no measurable short position, they provide little indication of near-term buying or selling pressure. Neutral Sentiment: Analyst sentiment remains mixed. The consensus rating is “Hold,” with an average price target of $584.18, below recent trading levels. BMO Capital Markets raised its target to $600 while maintaining a market-perform rating, and Weiss Ratings upgraded the stock to “Buy.” Negative Sentiment: Multiple company insiders recently sold shares. CEO August J. Troendle sold 13,995 shares for approximately $8.74 million on August 21 and another 1,983 shares for about $1.23 million on August 24. CFO Kevin Brady sold 3,400 shares worth roughly $2.13 million, reducing his ownership by 20.95%. Additional director sales were also reported. Although executives retain significant holdings, the concentration of selling can weigh on investor confidence. About Medpace (Free Report)
Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.
Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.
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American Capital Management koupila ve 2. čtvrtletí nový podíl v Medpace za 111,329 milionu USD a zařadila akcii mezi své třetí největší držby. Medpace zároveň oznámila zisk na akcii 4,25 USD a tržby 707,33 milionu USD, obojí nad odhady.
American Capital Management Inc. bought a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 210,217 shares of the company’s stock, valued at approximately $111,329,000. Medpace makes up about 5.0% of American Capital Management Inc.’s investment portfolio, making the stock its 3rd largest holding. American Capital Management Inc. owned approximately 0.75% of Medpace as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Medpace in the second quarter worth $1,323,047,000. AQR Capital Management LLC lifted its position in Medpace by 31.6% during the 4th quarter. AQR Capital Management LLC now owns 1,349,703 shares of the company’s stock valued at $758,061,000 after acquiring an additional 324,293 shares during the period. Wasatch Advisors LP lifted its position in Medpace by 14.0% during the 2nd quarter. Wasatch Advisors LP now owns 945,814 shares of the company’s stock valued at $296,853,000 after acquiring an additional 116,354 shares during the period. Geode Capital Management LLC boosted its stake in Medpace by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 667,298 shares of the company’s stock worth $374,836,000 after acquiring an additional 24,625 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Medpace by 18.9% during the third quarter. Invesco Ltd. now owns 537,407 shares of the company’s stock worth $276,313,000 after acquiring an additional 85,517 shares in the last quarter. 77.98% of the stock is owned by institutional investors.
Medpace Trading Up 0.8% Medpace stock opened at $619.05 on Thursday. Medpace Holdings, Inc. has a 12 month low of $373.00 and a 12 month high of $677.90. The stock has a fifty day simple moving average of $559.49 and a two-hundred day simple moving average of $493.31. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.74 and a beta of 1.15.
Medpace (NASDAQ:MEDP – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.98 by $0.27. The business had revenue of $707.33 million during the quarter, compared to analyst estimates of $689.51 million. Medpace had a return on equity of 110.15% and a net margin of 17.67%.Medpace’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.10 EPS. Medpace has set its FY 2026 guidance at 17.250-17.950 EPS. On average, equities research analysts forecast that Medpace Holdings, Inc. will post 17.54 EPS for the current fiscal year. Insider Activity In related news, Director Fred B. Davenport, Jr. sold 7,283 shares of Medpace stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $606.15, for a total transaction of $4,414,590.45. Following the transaction, the director owned 3,798 shares in the company, valued at approximately $2,302,157.70. The trade was a 65.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO August J. Troendle sold 27,174 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $618.79, for a total value of $16,814,999.46. Following the completion of the sale, the chief executive officer owned 561,195 shares of the company’s stock, valued at $347,261,854.05. The trade was a 4.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 125,290 shares of company stock valued at $76,466,988. Company insiders own 20.50% of the company’s stock.
Medpace News Roundup Here are the key news stories impacting Medpace this week:
Positive Sentiment: Medpace remains near a potential technical buy point of $628.92 after its July advance. The stock is trading well above its 50-day and 200-day moving averages, indicating sustained momentum. Medpace Stock Hovers Near Entry, Offers Second Chance After July Spike Positive Sentiment: The company’s latest quarterly results exceeded expectations: adjusted earnings were $4.25 per share versus the $3.98 consensus estimate, while revenue rose 17.2% year over year to $707.33 million, surpassing forecasts. Fiscal 2026 EPS guidance remains $17.25 to $17.95. Positive Sentiment: Institutional investors and hedge funds own approximately 78% of Medpace, and several investment firms have recently increased their positions. Some analysts have also raised price targets, including RBC’s $692 target and Mizuho’s $665 target. Neutral Sentiment: Value-focused investors are comparing Medpace with Concentra Group, but the available report does not establish a clear valuation advantage for MEDP. The stock trades at roughly 36 times earnings, with a PEG ratio above 2.7, suggesting investors are already paying a premium for growth. CON vs. MEDP: Which Stock Should Value Investors Buy Now? Neutral Sentiment: Reported short interest was zero shares, producing a zero-day days-to-cover ratio. This provides no meaningful evidence of short-covering demand or downside pressure. Negative Sentiment: Several executives have recently sold shares near $620–$625. CEO August Troendle sold 15,978 shares in two transactions worth approximately $9.97 million, while CFO Kevin Brady sold 3,400 shares valued at about $2.13 million. Although both executives retain shares, the concentration of insider selling could weigh on sentiment. Medpace CEO August Troendle Sells 1,983 Shares Negative Sentiment: Analyst opinion remains cautious overall: the consensus rating is “Hold,” and the average price target of $584.18 is below recent trading levels. This may make additional upside more difficult without another earnings or guidance catalyst. Wall Street Analysts Forecast Growth A number of equities analysts have weighed in on MEDP shares. Leerink Partners set a $620.00 target price on shares of Medpace in a research note on Thursday, July 23rd. Mizuho boosted their target price on Medpace from $586.00 to $665.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Robert W. Baird raised their price target on Medpace from $547.00 to $624.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and lifted their price target for the stock from $490.00 to $515.00 in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Medpace from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Medpace has a consensus rating of “Hold” and an average target price of $584.18.
Read Our Latest Report on MEDP
Medpace Profile (Free Report)
Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.
Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.
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B. Metzler seel. Sohn & Co. AG ve 2. čtvrtletí koupila nový podíl v Medpace za 4,737 milionu USD. Medpace zároveň oznámila EPS ve výši 4,25 USD a tržby 707,33 milionu USD, obojí nad odhady.
B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,944 shares of the company’s stock, valued at approximately $4,737,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in Medpace by 22.1% during the 1st quarter. NewEdge Advisors LLC now owns 1,048 shares of the company’s stock valued at $319,000 after acquiring an additional 190 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Medpace by 3.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,817 shares of the company’s stock worth $24,929,000 after acquiring an additional 3,010 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Medpace by 64.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Medpace during the second quarter valued at about $296,000. Finally, M&T Bank Corp boosted its position in Medpace by 3.4% during the second quarter. M&T Bank Corp now owns 939 shares of the company’s stock valued at $295,000 after purchasing an additional 31 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.
Medpace Stock Up 1.3% Shares of NASDAQ MEDP opened at $620.75 on Friday. Medpace Holdings, Inc. has a 52 week low of $373.00 and a 52 week high of $677.90. The business’s 50 day moving average price is $550.16 and its 200 day moving average price is $492.71. The firm has a market cap of $17.33 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.73 and a beta of 1.15.
Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.98 by $0.27. The company had revenue of $707.33 million during the quarter, compared to analyst estimates of $689.51 million. Medpace had a net margin of 17.67% and a return on equity of 110.15%. Medpace’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $3.10 EPS. Medpace has set its FY 2026 guidance at 17.250-17.950 EPS. As a group, research analysts expect that Medpace Holdings, Inc. will post 17.54 earnings per share for the current year. Insiders Place Their Bets In other news, Director Brian T. Carley sold 5,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $608.63, for a total transaction of $3,043,150.00. Following the sale, the director directly owned 27,825 shares of the company’s stock, valued at $16,935,129.75. This represents a 15.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Susan E. Burwig sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $600.00, for a total value of $4,500,000.00. Following the sale, the vice president owned 62,984 shares in the company, valued at $37,790,400. This trade represents a 10.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 122,261 shares of company stock worth $71,729,129. Corporate insiders own 20.50% of the company’s stock.
Analyst Upgrades and Downgrades A number of brokerages have recently issued reports on MEDP. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $535.00 price objective on shares of Medpace in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on Medpace from $484.00 to $692.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Leerink Partners set a $620.00 price objective on Medpace in a report on Thursday, July 23rd. Robert W. Baird raised their price objective on Medpace from $547.00 to $624.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and increased their price target for the company from $490.00 to $515.00 in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Medpace currently has a consensus rating of “Hold” and a consensus target price of $584.18.
View Our Latest Analysis on Medpace
Medpace Company Profile (Free Report)
Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.
Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.
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It has been about a month since the last earnings report for Medpace (MEDP - Free Report) . Shares have added about 1.1% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Medpace due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Medpace Holdings, Inc. before we dive into how investors and analysts have reacted as of late.
MEDP Q2 Earnings and Revenues Surpass EstimatesMedpace Holdings, Inc.reported second-quarter 2026 earnings of $4.25 per share, up 37.1% year over year. The figure beat the Zacks Consensus Estimate by 4.17%.
Revenues rose 17.2% to $707.33 million and surpassed the consensus mark by 1.12%. On a constant-currency basis, growth was also 17.2%, indicating that foreign exchange had little effect on the reported expansion.
Medpace Posts Record Quarterly Awards
Net new business awards jumped 28.2% to $795.7 million, driving a net book-to-bill ratio of 1.13. Management attributed the record net bookings performance partly to a meaningful decline in cancellations from elevated first-quarter levels.
Backlog as of June 30, 2026 rose 4.9% year over year to $3.01 billion. Medpace expects about $1.96 billion of backlog to convert into revenues over the next 12 months. The quarterly backlog conversion rate increased to 24.1% from 21.2% a year ago.
MEDP Sees Oncology Regain Momentum
Management said oncology accounted for more than half of second-quarter bookings and initial award notifications. This marked a shift from the recent period when cardiometabolic programs were a larger contributor to business growth.
Medpace expects oncology to move back toward a more historically typical share of its portfolio over the next year. Cardiometabolic award notifications have moderated, while oncology opportunities have strengthened. The company also reported meaningfully higher request-for-proposal activity both sequentially and year over year.
Medpace Highlights Cash Position and Buybacks
Cash and cash equivalents totaled $502.7 million at the second quarter-end compared with $652.7 million as of March 31, 2026.
Net days sales outstanding remained favorable at negative 59.6 days.
Cumulative cash flow from operating activities came in at $162 million compared with $274.4 million a year ago.
MEDP repurchased approximately 706,000 shares for $294.7 million during the second quarter. The company had $527 million remaining under its authorized share repurchase program at quarter-end.
MEDP Raises Its 2026 Outlook
Medpace now expects 2026 revenues of $2.805-$2.885 billion, implying growth of 10.9%-14% over 2025 levels. The Zacks Consensus Estimate for revenues stands at $2.84 billion.
EBITDA is projected between $618 million and $642 million, suggesting growth of 10.8%-15.1%.
GAAP net income is forecast at $494-$514 million, while earnings are expected between $17.25 and $17.95 per share. The Zacks Consensus Estimate expects earnings to be $17.51 per share. The guidance assumes a 19%-19.5% tax rate, $21.1 million of interest income and no additional share repurchases after June 30.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
The consensus estimate has shifted 5.61% due to these changes.
VGM ScoresCurrently, Medpace has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock has a grade of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. It comes with little surprise Medpace has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerMedpace belongs to the Zacks Medical Services industry. Another stock from the same industry, Elevance Health (ELV - Free Report) , has gained 4.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
Elevance Health reported revenues of $49.83 billion in the last reported quarter, representing a year-over-year change of +0.8%. EPS of $7.45 for the same period compares with $8.84 a year ago.
Elevance Health is expected to post earnings of $4.82 per share for the current quarter, representing a year-over-year change of -20.1%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.5%.
Elevance Health has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Key Takeaways Medpace posted record Q2 net new business awards of $795.7 million, lifting book-to-bill to 1.13.MEDP's backlog reached $3.01 billion, with about $1.96 billion expected to convert within 12 months.MEDP's record bookings were helped by lower cancellations, which remain difficult to forecast. Medpace Holdings, Inc. (MEDP - Free Report) regained commercial momentum in the second quarter of 2026 as record awards and a higher book-to-bill ratio reversed the weaker first-quarter trend.
The central issue is timing. Better demand can strengthen backlog and support future growth, but study starts, pre-backlog work and unpredictable cancellations may delay the larger revenue benefit until 2027.
MEDP Delivers Record Quarterly AwardsNet new business awards increased 28.2% year over year to $795.7 million, the highest quarterly level reported by Medpace. The result lifted net book-to-bill to 1.13, meaning awards exceeded second-quarter revenues.
That was a clear improvement from the first quarter's 0.88 ratio. The rebound indicates that commercial activity recovered enough to replace revenue consumed during the quarter and begin rebuilding forward coverage.
Medpace’s Demand Indicators BroadenRequest-for-proposal activity increased both sequentially and year over year, while win rates recovered after management's improvement initiatives. Client funding activity also remained constructive, supporting a broader opportunity set.
Management expects gross bookings to ramp during the second half. That outlook is relevant across the contract research market, where ICON plc (ICLR - Free Report) provides integrated clinical development services and IQVIA Holdings Inc. (IQV - Free Report) combines clinical research services with healthcare data and analytics. For MEDP, stronger gross awards will matter most if cancellations stay within a reasonable range.
MEDP’s Oncology Mix Reshapes the PipelineOncology represented more than half of second-quarter bookings and initial award notifications. At the same time, new cardiometabolic award activity moderated as several large metabolic programs moved closer to maturity.
The shift reduces reliance on the therapeutic area that recently drove growth and moves the pipeline toward Medpace's historical mix. Yet oncology programs can carry different award, study-start and conversion patterns, leaving the timing of revenue recognition less predictable.
Medpace’s Backlog Supports Revenue ContinuityEnding backlog increased 4.9% year over year to $3.01 billion. Medpace expects approximately $1.96 billion of that backlog to convert into revenues over the next 12 months, providing a meaningful base of contracted work.
The near-term conversion estimate does not capture the full potential of the second-quarter awards. Some programs remain in pre-backlog, while others need additional time before study activity begins. Those lags could push much of the incremental contribution into 2027.
Here's where the consensus estimates for the company's 2026 and 2027 sales currently stand.
Image Source: Zacks Investment Research
MEDP’s Cancellation Risk Clouds the RecoveryLower cancellations accounted for more than half of the sequential improvement in net bookings. That makes the quarterly record less straightforward than the headline figure suggests because part of the rebound came from fewer lost awards rather than gross-booking growth alone.
Management said cancellations cannot be forecast reliably and may arise without warning. A renewed spike could weaken net bookings, slow backlog expansion and delay the expected benefit from the stronger commercial pipeline.
MEDP’s Growth Signals Support Cautious OptimismThe second-quarter recovery improves MEDP's path toward stronger 2027 growth, but execution still depends on converting awards into backlog and starting studies on schedule. The year-to-date book-to-bill ratio of 1.00 also shows that the first-half recovery was balanced rather than decisive.
Image Source: Zacks Investment Research
MEDP currently carries a Zacks Rank #2 (Buy), with a Growth Score of A and a VGM Score of B. Those readings support the stock's growth profile and complement its favorable earnings-revision signal. Still, a Value Score of D and a Momentum Score of C argue for close attention to valuation, backlog conversion and the durability of bookings before drawing a firmer conclusion.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Medpace Holdings, Inc. (MEDP) Q2 2026 Earnings Call July 23, 2026 9:00 AM EDT
Company Participants
David Ruhe
August Troendle - CEO, President & Chairman
Kevin Brady - CFO & Treasurer
Conference Call Participants
Charles Rhyee - TD Cowen, Research Division
Michael Cherny - Leerink Partners LLC, Research Division
Ann Hynes - Mizuho Securities USA LLC, Research Division
Jailendra Singh - Truist Securities, Inc., Research Division
Christine Rains - William Blair & Company L.L.C., Research Division
David Windley - Jefferies LLC, Research Division
Ryan Halsted - RBC Capital Markets, Research Division
Eric Coldwell - Robert W. Baird & Co. Incorporated, Research Division
Justin Bowers - Deutsche Bank AG, Research Division
Presentation
Operator
Good day, ladies and gentlemen, and welcome to the Medpace Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I would now like to introduce your host for today's conference call, David Ruhe, Medpace's Director of Investor Relations. You may begin.
David Ruhe
Good morning, and thank you for joining Medpace's second quarter 2026 Earnings Conference Call. Also on the call today is our CEO, August Troendle; and our CFO, Kevin Brady. Before we begin, I would like to remind you that our remarks and responses to your questions during this teleconference may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve inherent assumptions with known and unknown risks and uncertainties as well as other important factors that could cause actual results to differ materially from our current expectations. These factors are discussed in our Form 10-K and other filings with the SEC. Please note that we assume no obligation to update forward-looking statements even if estimates change. Accordingly, you should not rely on any of today's forward-looking statements as representing our views as of any date after today.
Medpace (MEDP - Free Report) came out with quarterly earnings of $4.25 per share, beating the Zacks Consensus Estimate of $4.08 per share. This compares to earnings of $3.1 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.17%. A quarter ago, it was expected that this provider of outsourced clinical development services would post earnings of $3.74 per share when it actually produced earnings of $4.28, delivering a surprise of +14.44%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Medpace, which belongs to the Zacks Medical Services industry, posted revenues of $707.33 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.12%. This compares to year-ago revenues of $603.31 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Medpace shares have lost about 5.3% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for Medpace?While Medpace has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Medpace was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.22 on $694.23 million in revenues for the coming quarter and $17.04 on $2.79 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical Services is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Avantor, Inc. (AVTR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 29.
This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -20.8%. The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level.
Avantor, Inc.'s revenues are expected to be $1.62 billion, down 3.5% from the year-ago quarter.
Medpace Holdings (MEDP) ve středu po uzavření trhu vyskočila o dvouciferné procento díky silnému růstu zakázek. Poměr book-to-bill dosáhl 1,13x, nad očekáváním 0,95x až 1,01x.
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Stock Market Rally Defies Rising Oil, Bond Yields; Chips Lead As Seagate, Micron Make Bullish Moves Medpace Holdings (MEDP) stock surged by double digits late Wednesday, helped by a big bookings beat, rebounding from a poor start to the year. The contract research organization, or CRO, put up a book-to-bill ratio of 1.13x, easily above expectations for 0.95x to 1.01x, according to Leerink Partners analyst Michael Cherny. That means Medpace received more new orders than it…
Medpace má backlog 2,93 mld. USD, z nějž má v příštích 12 měsících přejít do výnosů asi 1,9–1,94 mld. USD. Slabší book-to-bill ratio 0,88x a vyšší rušení zakázek ale brzdí výhled růstu.
Key Takeaways Medpace's $2.93B backlog supports revenue visibility, with $1.9B-$1.94B expected to convert over 12 months.MEDP's metabolic programs help stabilize backlog as oncology and cardiovascular see higher cancellations.MEDP faces softer proposal activity and a 0.88X book-to-bill ratio, tempering near-term growth signals. Medpace Holdings, Inc. (MEDP - Free Report) has a near-term setup defined less by headline growth and more by the quality of its backlog. Revenue visibility remains meaningful, but booking momentum is not yet sending a clean reacceleration signal.
The company still has several supports, including stable margins, liquidity and metabolic demand. The issue for investors is whether cancellations and softer requests for proposals keep that visibility from turning into faster growth.
Here’s a look at Medpace’s stock performance over the past 12 months.
Image Source: Zacks Investment Research
How Medpace Makes Its Clinical Model WorkMedpace operates as a global, full-service clinical contract research organization supporting Phase I-IV drug and device development. Its services include protocol and project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance, submission support, bioanalytical labs and medical imaging.
The model is centralized and managed as one full-service platform, which helps keep study execution consistent across North America, Europe and Asia. Medpace has particular depth in oncology, metabolic disease, cardiology, central nervous system, antiviral and anti-infective work.
Client mix is another defining feature. Small biopharma accounted for 82% of fiscal 2025 revenues, while mid-sized biopharma represented 13%, leaving MEDP closely tied to emerging and development-stage sponsors.
IQVIA Holdings Inc. (IQV - Free Report) gives investors another large-scale CRO reference point because it provides clinical research services, commercial insights and healthcare intelligence to life sciences customers. Charles River Laboratories International, Inc. (CRL - Free Report) sits in an adjacent contract research area, with drug discovery, non-clinical development and safety testing exposure.
MEDP Backlog Still Supports 2026 RevenueBacklog remains the clearest source of revenue continuity. Medpace ended March 31, 2026, with backlog of $2.93 billion, up 2.9% from the year-ago period.
Management projects roughly $1.9 billion-$1.94 billion of backlog will convert into revenues over the next 12 months. That conversion base gives the company a bridge into 2026 even as net new business awards of $618.4 million produced a net book-to-bill ratio of 0.88X in the first quarter.
The distinction matters. Backlog supports visibility, but a sub-1.0X book-to-bill means awards did not fully replenish quarterly revenues. For now, the backlog points to continuity rather than proof that growth is ready to accelerate.
Take a look at Medpace’s sales multiple over the last five years.
Image Source: Zacks Investment Research
Medpace Finds Stability in Metabolic DemandMetabolic and GLP-1 programs remain an important stabilizer. These programs have historically carried lower cancellation rates than some other tracked therapeutic areas, which supports backlog quality and utilization.
That exposure is valuable because oncology and cardiovascular programs have been more cancellation-prone. In the first quarter of 2026, metabolic revenues reached $237.6 million, exceeding oncology revenues of $201.2 million and making metabolic the largest disclosed therapeutic area by revenue.
The opportunity is not without limits. New metabolic opportunities could face saturation or price sensitivity, but durable in-flight work still helps MEDP absorb pressure elsewhere in the portfolio.
MEDP Faces the Drag From CancellationsCancellations remain the main offset to the backlog story. First-quarter cancellations reached their highest level in more than a year, with oncology and cardiovascular programs the largest contributors.
The demand funnel also looks uneven. Requests for proposals declined sequentially and year over year, while the first-quarter book-to-bill ratio stayed below 1.0X.
Initial award notifications and win rates were stronger, which helps the pipeline narrative. Still, many awards remain in pre-backlog, and typical lags of three to five quarters before program starts limit the immediate revenue benefit.
Medpace Signals Matter for Patient InvestorsThe bottom line is that MEDP offers a balanced signal set. Backlog conversion, stable profitability and metabolic exposure support patience, but cancellations, softer proposal activity and delayed program starts keep the near-term outlook measured.
The stock currently carries a Zacks Rank #3 (Hold), which points to more balanced short-term earnings estimate picture. Its Style Scores show a Growth Score of A, Value Score of D, Momentum Score of C and VGM Score of B. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
That mix fits the current debate. The Growth Score of A and VGM Score of B point to attractive growth traits and a favorable combined style profile, while the Value Score of D suggests valuation support is less clear. For investors, MEDP’s next signal is likely to come from whether backlog quality and awards can outpace cancellations without pressuring margins.
