Conestoga Capital Advisors, an asset management company, released its first-quarter 2026 investor letter. A copy of the letter can be downloaded here. The first quarter of 2026 began with optimism about the domestic economy and attractive Small Cap valuations, but was impacted by volatility from Middle East geopolitical unrest and changing interest rate expectations. This unrest drove energy prices up and created cautious global markets. Energy, Basic Materials, and Industrials performed well, while software companies faced challenges due to AI disruption concerns. Market sensitivity to geopolitical events, energy prices, and inflation remains high. The Conestoga Small Cap Composite fell 5.01%, underperforming the Russell 2000 Growth’s -2.81% return. The decline was driven by negative stock selection and headwinds in Technology and Health Care, with sector allocation benefits insufficient to offset losses. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Conestoga Capital Advisors highlighted LeMaitre Vascular, Inc. (NASDAQ:LMAT) as a leading contributor. LeMaitre Vascular, Inc. (NASDAQ:LMAT) is a medical device company focusing on the manufacturing and development of products and services for vascular surgery. On April 27, 2026, LeMaitre Vascular, Inc. (NASDAQ:LMAT) closed at $114.52 per share. One-month return of LeMaitre Vascular, Inc. (NASDAQ:LMAT) was 4.90%, and its shares gained 23.67% over the past 52 weeks. LeMaitre Vascular, Inc. (NASDAQ:LMAT) has a market capitalization of $2.62 billion.
Conestoga Capital Advisors stated the following regarding LeMaitre Vascular, Inc. (NASDAQ:LMAT) in its Q1 2026 investor letter:
“LeMaitre Vascular, Inc. (NASDAQ:LMAT) develops and manufactures devices for the treatment of vascular disease. The quarter reinforced the company’s ability to consistently convert steady procedure-driven demand into outsized profit growth, supported by pricing and disciplined expense management. Operating leverage was the key driver of the stock, with operating income increasing 47% on mid-teens revenue growth. Investors rewarded the combination of steady execution and high visibility in a volatile market.”
LeMaitre Vascular, Inc. (NASDAQ:LMAT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 57 hedge fund portfolios held LeMaitre Vascular, Inc. (NASDAQ:LMAT) at the end of the fourth quarter, up from 56 in the previous quarter. While we acknowledge the risk and potential of LeMaitre Vascular, Inc. (NASDAQ:LMAT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LeMaitre Vascular, Inc. (NASDAQ:LMAT) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered LeMaitre Vascular, Inc. (NASDAQ:LMAT) and shared a bullish thesis on the company. In addition, please check out our hedge fund investor letters Q1 2026 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.
