LVS Advisory, a New York City-based full-service investment firm, recently released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. The LVS Event-Driven portfolio had a strong Q3 and appreciated nearly 5% in the first nine months. Despite a challenging Q1, the portfolio is on track for the year, albeit below average. It has maintained a strong performance with no down years or drawdowns over 6% since its inception in 2019. The LVS Growth Portfolio gained 27.1% for the first nine months and extended its lead compared to the S&P 500 during the third quarter. For more information on the fund’s top picks in 2024, please check its top five holdings.
LVS Advisory highlighted stocks like Medpace Holdings, Inc. (NASDAQ:MEDP), in the third quarter 2024 investor letter. Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services provider. The one-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -2.21%, and its shares gained 52.93% of their value over the last 52 weeks. On October 15, 2024, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $353.30 per share with a market capitalization of $10.953 billion.
LVS Advisory stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its Q3 2024 investor letter:
“This quarter I will discuss an investment we made in Medpace Holdings, Inc. (NASDAQ:MEDP). We initiated a small position in Medpace during the fourth quarter of 2023, but we increased our investment after the company’s stock price declined following its Q2 earnings miss. I will provide an overview of the Company and discuss why I believe the issues weighing on the stock are likely temporary and provide a buying opportunity for investors.
Medpace was founded in 1992 by August Troendle who remains the CEO and largest shareholder today. The Company operates as a contract research organization (“CRO”). CROs manage the clinical trials for pharmaceutical companies through an outsourced relationship. The scope of work for a CRO can include everything from designing the clinical study, recruiting study patients, monitoring patients, collecting study data, analyzing data, performing lab work, writing medical documentation, submitting findings to the FDA, and more…” (Click here to read the full text)
A medical professional in a lab coat discussing with a colleague.
Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Medpace Holdings, Inc. (NASDAQ:MEDP) at the end of the second quarter which was 40 in the previous quarter. Medpace Holdings, Inc.’s (NASDAQ:MEDP) second quarter revenue was $528.1 million, up 14.6% year-over-year. While we acknowledge the potential of Medpace Holdings, Inc. (NASDAQ:MEDP) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Medpace Holdings, Inc. (NASDAQ:MEDP) and shared Headwaters Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.