Reasons for the Outperformance of Medpace Holdings (MEDP)
Investment management company Vulcan Value Partners recently released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all gained positive absolute returns in the second quarter. The fund’s Large Cap Composite returned 10.0% net of fees and expenses, the Small Cap Composite returned 4.4% net, the Focus Composite returned 11.1% net, the Focus Plus composite returned 10.6%, and the All-Cap Composite returned 6.0% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners highlighted stocks like Medpace Holdings, Inc. (NASDAQ:MEDP) in the second quarter 2023 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research service provider. On August 22, 2023, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $248.20 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -3.24%, and its shares gained 48.10% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $7.586 billion.
Vulcan Value Partners made the following comment about Medpace Holdings, Inc. (NASDAQ:MEDP) in its second quarter 2023 investor letter:
"There were four material contributors to performance: SmartRent Inc., Medpace Holdings, Inc. (NASDAQ:MEDP), PROG Holdings Inc., and Enersys. Medpace is exceeding our expectations. New business awards, revenue growth, earnings growth, and free cash flow production are strong, despite the challenges in the biotech funding environment."
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Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Medpace Holdings, Inc. (NASDAQ:MEDP) at the end of second quarter which was 31 in the previous quarter.
We discussed Medpace Holdings, Inc. (NASDAQ:MEDP) in another article and shared Wasatch Small Cap Core Growth Strategy's vies on the company. In addition, please check out our hedge fund investor letters Q2 2023 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.
