Cedar Grove Capital Management’s Views on LENSAR (LNSR)

2 hours ago 2

Soumya Eswaran

Mon, April 20, 2026 astatine 8:00 AM CDT 3 min read

Michigan-based concern advisor Cedar Grove Capital Management precocious released its archetypal 4th 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. Cedar Grove Capital Management’s Multi-Strategy Composite posted a -23.0% nett instrumentality since inception, compared to -5.6% for the Russell 2000, -5.9% for the Russell Microcap, and -5.5% for the S&P 500. Timing is cardinal for aboriginal money success, yet predicting outer shocks during volatile macroeconomic periods is impossible. Rather than speculate connected macro risks, it’s advisable to put successful beardown companies astatine tenable prices with bully maturation prospects. The caller downturn, called a "SaaS apocalypse," was an accidental to bargain prime stocks that were undervalued contempt amended fundamentals and imaginable AI-driven gains. In February and aboriginal March, astir each portfolio holdings reported beardown earnings. However, the outbreak of warfare successful Iran rapidly overshadowed these gains, causing a accelerated marketplace selloff. While macro factors wounded show successful Q1, the steadfast is assured that its companies volition bash good successful Q2 and beyond. In addition, delight cheque the Strategy’s apical 5 holdings to cognize its champion picks successful 2026.

In its first-quarter 2026 capitalist letter, Cedar Grove Capital Management highlighted LENSAR, Inc. (NASDAQ:LNSR). LENSAR, Inc. (NASDAQ:LNSR) is simply a commercialized signifier aesculapian instrumentality institution focusing connected processing laser systems for the attraction of cataracts and the absorption of pre-existing oregon surgically induced corneal astigmatism. On April 17, 2026, LENSAR, Inc. (NASDAQ:LNSR) closed astatine $5.93 per share. One-month instrumentality of LENSAR, Inc. (NASDAQ:LNSR) was -2.31%, and its shares mislaid 57.00% implicit the past 52 weeks. LENSAR, Inc. (NASDAQ:LNSR) has a marketplace capitalization of $71.73 million.

Cedar Grove Capital Management stated the pursuing regarding LENSAR, Inc. (NASDAQ:LNSR) successful its Q1 2026 capitalist letter:

"LENSAR, Inc. (NASDAQ:LNSR) was a merger arbitrage commercialized that was going connected for astir the amended portion of a year. Having approved an connection from Alcon (ALC) for $14/share past March, the woody kept getting pushed backmost but was inactive wrong the model outlined successful the archetypal merger agreement. Despite what would beryllium a ample stock of the femtosecond laser-assisted cataract country (FLACS) market, a caller FTC nether the Trump medication seemed to beryllium pro-merger, particularly aft allowing the Live Nation (LYV) suit to beryllium settled successful 4 a mode that mostly benefitted the company.

However, not adjacent a period aft extending the merger, LNSR announced that the woody was being terminated. We exited that presumption the time aft the announcement, but we’re inactive optimistic that the institution could get a 2nd accidental astatine beingness erstwhile absorption gets backmost connected track. We shared much astir those thoughts present presents itself again."

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