Connor Clark & Lunn Investment Management Ltd. Buys 21,764 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Connor Clark & Lunn Investment Management Ltd. grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 466.9% in the third quarter, Holdings Channel reports. The fund owned 26,425 shares of the company’s stock after acquiring an additional 21,764 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Medpace were worth $8,821,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Westwind Capital boosted its stake in shares of Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after acquiring an additional 143,481 shares during the last quarter. Renaissance Technologies LLC increased its position in Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after acquiring an additional 122,800 shares during the period. AQR Capital Management LLC raised its stake in shares of Medpace by 62.3% during the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after acquiring an additional 119,257 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Medpace by 1,028.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company’s stock worth $48,056,000 after purchasing an additional 106,343 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

Shares of MEDP opened at $341.87 on Friday. The stock has a 50-day moving average of $340.48 and a 200-day moving average of $373.99. The company has a market cap of $10.63 billion, a PE ratio of 29.94, a P/E/G ratio of 1.74 and a beta of 1.37. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. Medpace’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $2.22 EPS. Analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MEDP. Robert W. Baird lowered Medpace from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. TD Cowen cut their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their target price for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Redburn Atlantic initiated coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Medpace presently has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.