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Are these the best mid cap growth shares on the ASX?

One of the best parts of the market to look for growth shares in my opinion is the mid cap space.

I think in this area there are a large number of shares that have the potential to grow into much bigger entities over the next decade.

Here’s why I think these three shares could be among the best mid cap growth shares on the market right now:

Bellamy’s Australia Ltd (ASX: BAL)

This organic infant formula company’s share price performance in 2018 has been thoroughly disappointing. The cause of this underperformance has been delays to it being granted its accreditation to sell Chinese-labeled products in China and also the sales disruption caused by the launch of a new formulation. While this is disappointing I think it is well worth holding on for the long term. Especially how Bellamy’s management remains confident it will hit $500 million in sales in FY 2021.

Bravura Solutions Ltd (ASX: BVS)

Another top mid cap growth share to consider is Bravura Solution. It provides software solutions to the wealth management, life insurance, and funds administration industries. The key attraction to the company for me is its Sonata wealth management platform. It has been growing at such a strong rate it has become the company’s biggest contributor to earnings. The good news is that its large market opportunity means this strong growth could continue for some time to come.

Helloworld Travel Ltd (ASX: HLO)

Helloworld is an integrated travel company that I think is trading at a great price given its solid growth prospects. Following a strong performance in the first quarter of FY 2019, management recently confirmed that it is on course to grow its full year earnings in the range of 16.5% and 23%. Despite this strong growth outlook, its shares are trading at just 18x estimated forward earnings. They also offer a reasonably generous trailing fully franked 3.2% dividend.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Bravura Solutions Ltd and Helloworld Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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