Free Trial

Connor Clark & Lunn Investment Management Ltd. Buys 21,150 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Medpace logo with Medical background

Key Points

  • Connor Clark & Lunn Investment Management Ltd. increased its stake in Medpace Holdings, Inc. by 32.3%, acquiring an additional 21,150 shares in the first quarter, bringing its total ownership to 86,566 shares valued at approximately $26.4 million.
  • In recent insider transactions, CEO August J. Troendle sold 48,487 shares for over $21.9 million, resulting in a 4.80% decrease in his ownership, while CFO Kevin M. Brady decreased his stake by 66.67%.
  • Medpace reported quarterly earnings of $3.10 per share, exceeding analyst expectations, with revenue of $603.31 million, indicating a year-over-year growth of 14.2%.
  • Looking to Export and Analyze Medpace Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 32.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,566 shares of the company's stock after acquiring an additional 21,150 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Medpace worth $26,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Wasatch Advisors LP grew its stake in shares of Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after acquiring an additional 28,161 shares during the period. Mawer Investment Management Ltd. bought a new stake in shares of Medpace in the first quarter worth approximately $212,131,000. Bessemer Group Inc. grew its stake in shares of Medpace by 1.1% in the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock worth $177,411,000 after acquiring an additional 6,225 shares during the period. AQR Capital Management LLC grew its stake in shares of Medpace by 31.3% in the fourth quarter. AQR Capital Management LLC now owns 480,186 shares of the company's stock worth $159,532,000 after acquiring an additional 114,436 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in shares of Medpace by 5.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 438,100 shares of the company's stock worth $145,550,000 after acquiring an additional 21,881 shares during the period. 77.98% of the stock is currently owned by institutional investors.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 48,487 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $451.69, for a total value of $21,901,093.03. Following the transaction, the chief executive officer owned 962,615 shares of the company's stock, valued at approximately $434,803,569.35. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin M. Brady sold 12,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the completion of the transaction, the chief financial officer directly owned 6,000 shares in the company, valued at $2,725,380. This trade represents a 66.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,788 shares of company stock valued at $51,018,354. 20.30% of the stock is owned by corporate insiders.

Medpace Price Performance

MEDP opened at $434.35 on Friday. The firm has a market cap of $12.20 billion, a P/E ratio of 32.29, a PEG ratio of 2.73 and a beta of 1.42. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $501.30. The company has a 50 day simple moving average of $347.14 and a two-hundred day simple moving average of $327.23.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The business had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The company's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 earnings per share. Equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MEDP. Barclays lifted their price target on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. William Blair restated a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Mizuho boosted their target price on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Robert W. Baird boosted their target price on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Medpace presently has a consensus rating of "Hold" and a consensus target price of $406.60.

Check Out Our Latest Stock Analysis on MEDP

About Medpace

(Free Report)

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.

Recommended Stories

Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report).

Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Medpace Right Now?

Before you consider Medpace, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Medpace wasn't on the list.

While Medpace currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Growth Stocks That Could Pop Before Summer Ends
3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines