LeMaitre Vascular (LMAT) Hit by Profit Taking

LeMaitre Vascular (LMAT) Hit by Profit Taking

Thu, August 6, 2026 at 3:51 PM GMT+3 3 min read

• ^RUT -0.59%
• LMAT -25.32%

Conestoga Capital Advisors, an asset management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index achieving its best first half since 1991 and the Russell 2000 Growth Index up 25.7% in Q2, fueled by AI enthusiasm and semiconductor stocks. However, market leadership was uneven, mirroring the Tech Bubble, with high-beta stocks outperforming while high-quality companies lagged, which impacted Conestoga's quality-focused strategies. Management expressed confidence in long-term outcomes, noting that speculative leadership won't last as monetary policy tightens and market breadth improves. The firm remains committed to high-quality growth businesses, expecting these to regain favor as leadership broadens. The Conestoga Small Cap Composite returned 14.32% net-of-fees in the second quarter, with 25.71% for the Russell 2000 Growth Index. Narrow Index leadership hurt the relative results, but it also hid Composite improvements. In addition, please check the Strategy's top five holdings to know its best picks in 2026.

In its Q2 2026 investor letter, Conestoga Capital Advisors highlighted LeMaitre Vascular, Inc. (NASDAQ:LMAT). LeMaitre Vascular, Inc. (NASDAQ:LMAT) is a medical device company focusing on the manufacturing and development of products and services for vascular surgery. On August 5, 2026, LeMaitre Vascular, Inc. (NASDAQ:LMAT) closed at $79.00 per share, reflecting a market capitalization of $1.81 billion. LeMaitre Vascular, Inc. (NASDAQ:LMAT) posted a one-month return of -22.85%, while its shares lost 16.19% over the past 52 weeks.

Conestoga Capital Advisors stated the following regarding LeMaitre Vascular, Inc. (NASDAQ:LMAT) in its Q2 2026 investor letter:

"LeMaitre Vascular, Inc. (NASDAQ:LMAT) delivered another strong fundamental quarter, reporting 10% organic revenue growth, gross margins of 72.1%, and adjusted EPS of $0.68, exceeding the consensus estimate of $0.66. Despite these solid operating results, the shares declined following the earnings release as investors took profits in one of the medical device sector's strongest performers. Prior to reporting first-quarter results on May 5, 2026, LMAT shares had appreciated approximately 38% year-to-date. We continue to believe the company is well positioned to generate attractive revenue and earnings growth over the coming years, supported by its differentiated vascular product portfolio and consistent execution."

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, 26 hedge fund portfolios held LeMaitre Vascular, Inc. (NASDAQ:LMAT) at the end of the first quarter, up from 22 in the previous quarter. While we acknowledge the potential of LeMaitre Vascular, Inc. (NASDAQ:LMAT) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on thebest short-term AI stock.

In another article, we covered LeMaitre Vascular, Inc. (NASDAQ:LMAT) and shared Conestoga Capital Advisors' insight on the company from the previous quarter. In addition, please check out our hedge fund investor letters Q2 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.