Transcat (TRNS) Posted Solid Result in Q3

Conestoga Capital Advisors, an asset management company, released its “Conestoga Micro Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Micro-Cap composite declined 0.67% compared to a 2.14% return for the Russell Microcap Growth Index. The negative stock selection and underweight exposure to the top-performing Health Care sector resulted in the fund’s underperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Conestoga Capital Advisors highlighted stocks like Transcat, Inc. (NASDAQ:TRNS) in its Q3 2022 investor letter. Headquartered in Rochester, New York, Transcat, Inc. (NASDAQ:TRNS) offers calibration and laboratory instrument services. On December 15, 2022, Transcat, Inc. (NASDAQ:TRNS) stock closed at $67.74 per share. One-month return of Transcat, Inc. (NASDAQ:TRNS) was -18.85%, and its shares lost 24.07% of their value over the last 52 weeks. Transcat, Inc. (NASDAQ:TRNS) has a market capitalization of $511.999 million.

Conestoga Capital Advisors made the following comment about Transcat, Inc. (NASDAQ:TRNS) in its Q3 2022 investor letter:

Transcat, Inc. (NASDAQ:TRNS) engages in the provision of calibration and laboratory instrument services. TRNS reported solid quarterly results, with upside to both revenue and earnings. The Service segment, which grew 9% organically, once again drove the growth. Both segments had improved margins on a year-over-year basis. Management mentioned there were several new client-based lab implementations during the quarter. In addition, the company suggested an exciting level of activity within the pipeline for additional client-based labs.”

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Transcat, Inc. (NASDAQ:TRNS) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 5 hedge fund portfolios held Transcat, Inc. (NASDAQ:TRNS) at the end of the third quarter, which was 10 in the previous quarter.

We discussed Transcat, Inc. (NASDAQ:TRNS) in another article and shared Headwaters Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.