Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Core Growth Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed its benchmark index, the Russell 2000 Growth which gained 4.13%. The Russell 2000 Index rose 6.23% in the same period. The stock price strength of healthcare holdings led to the outperformance of the strategy in the quarter relative to the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Small Cap Core Growth Strategy highlighted stocks like Medpace Holdings, Inc. (NASDAQ:MEDP) in the Q4 2022 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research service provider. On March 20, 2023, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $179.73 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -9.64%, and its shares gained 8.12% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $5.581 billion.
Wasatch Small Cap Core Growth Strategy made the following comment about Medpace Holdings, Inc. (NASDAQ:MEDP) in its Q4 2022 investor letter:
“As mentioned above, health care was the strategy’s primary source of strength against the benchmark during the quarter. Because it’s an area that’s both defensive and growing, we think health care has the potential to do well even as the Fed’s interest-rate increases achieve their desired effect of slowing the growth of the broader economy. Top contributors to strategy performance included Medpace Holdings, Inc. (NASDAQ:MEDP).
Medpace is a contract-research organization that supplies clinical-development services to health-care firms. Shares of Medpace had languished for most of 2022 amid worries that a generally poor funding environment for the company’s customers would impact operations. Medpace earns the majority of its revenues from small firms that find it more cost-effective and efficient to outsource the management of clinical trials necessary to bring products to market. Concerns eased in October when quarterly revenues and earnings at Medpace came in ahead of expectations. In addition, the company upped its full-year guidance for 2022 and issued a positive outlook for 2023.”
Tonhom1009/Shutterstock.com
Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Medpace Holdings, Inc. (NASDAQ:MEDP) at the end of the fourth quarter which was 28 in the previous quarter.
We discussed Medpace Holdings, Inc. (NASDAQ:MEDP) in another article and shared the list of high growth healthcare stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 11 Most Promising Car Stocks to Buy
- 15 Most Promising Long-Term Stocks
- 11 Most Undervalued EV Stocks to Buy
Disclosure: None. This article is originally published at Insider Monkey.
