ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark Russell 2500 Growth Index in the fourth quarter with strong stock selection in the information technology (‘IT’) and consumer discretionary sectors overcoming detractors in the consumer staples sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge SMID Cap Growth Strategy featured stocks like Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter 2023 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services service provider. On March 21, 2024, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $413.31 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was 2.90%, and its shares gained 127.17% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $12.713 billion.
ClearBridge SMID Cap Growth Strategy stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its fourth quarter 2023 investor letter:
“We used the fourth quarter as a period of reflection and evaluation, eliminating positions where we felt our thesis was weakening while adding to new and existing holdings we felt were positioned well for years to come. Ultimately, this resulted in us initiating four new positions and exiting four others.
We also initiated a new position in Medpace Holdings, Inc. (NASDAQ:MEDP), in the health care sector, which provides clinical research-based drug and medical device development services. Medpace is a full service, one-stop shop for emergent biotech customers, and the company’s specific customer focus should allow it to continue to capture and grow market share within the industry.”
A medical professional in a lab coat discussing with a colleague.
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 NCG SMID Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.
