On October 21, 2024, during after-market hours, Medpace reported its third quarter 2024 financial results and cut its revenue guidance for full-year 2024. During an investor call held on October 22, 2024, Medpace indicated that the company had seen higher-than-normal levels of cancellations in the third quarter. As a result of the cancellations, Medpace’s net book-to-bill ratio, a key indicator of demand, was just 1.00 for the quarter, below analyst estimates and the lowest in Medpace’s history as a public company, according to one Truist analyst.
Following this news, Medpace’s stock price fell over 7%, from a close of $352.92 per share on October 21, 2024, to close at $326.54 per share on October 22, 2024.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.