Should You Invest in Medpace (MEDP)?

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The Strategy underperformed the benchmark in the quarter. The small-cap growth universe revealed a stark dichotomy despite the positive performance of the benchmark Russell 2000 Growth Index, which returned 7.58% in the first quarter. The Strategy posted gains in 5 of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance, partially offset by positive sector allocation effects on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2024.

ClearBridge Small Cap Growth Strategy featured stocks Medpace Holdings, Inc. (NASDAQ:MEDP) in the first quarter 2024 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services provider. On April 9, 2024, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $404.77 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -3.02%, and its shares gained 108.66% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $12.168 billion.

ClearBridge Small Cap Growth Strategy stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its first quarter 2024 investor letter:

“Encouragingly, we are seeing underlying improvements from companies we do own in the portfolio, with several being recent portfolio additions or subjects of repositioning work executed in 2023.

The first quarter represented another period of fruitful new idea generation with nine new investments. Consistent with historical practice, these initial investments represent modest position sizes that we intend to build over time.

Medpace Holdings, Inc. (NASDAQ:MEDP) provides outsourced clinical research drug development services to the pharmaceutical and biotechnology sectors. Medpace’s full-service focus on small-midsize biotech customers should allow it to post above-peer growth with strong profitability and cash flow generation.”

A clinical researcher in a lab, using cloud-based technology to analyze human biofluids.

Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Medpace Holdings, Inc. (NASDAQ:MEDP) was held by 38 hedge fund portfolios, compared to 36 in the previous quarter, according to our database.

We discussed Medpace Holdings, Inc. (NASDAQ:MEDP) in another article and shared The RiverPark/Next Century Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.


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