LeMaitre Vascular Inc. (LMAT) Trading Down 5.3% Following Insider Selling
LeMaitre Vascular Inc. (NASDAQ:LMAT) shares were down 5.3% on Thursday after an insider sold shares in the company. The company traded as low as $20.41 and last traded at $20.48, with a volume of 195,872 shares trading hands. The stock had previously closed at $21.62.
Specifically, Chairman George W. Lemaitre sold 60,037 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $18.30, for a total transaction of $1,098,677.10. Following the sale, the chairman now directly owns 3,443,098 shares of the company’s stock, valued at $63,008,693.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David B. Roberts sold 33,548 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $20.41, for a total transaction of $684,714.68. Following the sale, the insider now directly owns 79,793 shares in the company, valued at $1,628,575.13. The disclosure for this sale can be found here. 28.90% of the stock is currently owned by insiders.
LMAT has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Barrington Research increased their price target on shares of LeMaitre Vascular from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Brean Capital increased their price target on shares of LeMaitre Vascular from $17.50 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Canaccord Genuity set a $19.00 price target on shares of LeMaitre Vascular and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Sidoti downgraded shares of LeMaitre Vascular from a “buy” rating to a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $18.94.
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The firm has a 50-day moving average of $18.73 and a 200-day moving average of $15.92. The firm has a market cap of $380.17 million, a PE ratio of 41.35 and a beta of 0.51.
LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $22.40 million for the quarter, compared to analysts’ expectations of $21.59 million. LeMaitre Vascular had a net margin of 11.43% and a return on equity of 11.90%. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that LeMaitre Vascular Inc. will post $0.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were issued a $0.045 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.83%. LeMaitre Vascular’s payout ratio is 36.73%.
Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its position in shares of LeMaitre Vascular by 11.7% in the second quarter. American International Group Inc. now owns 7,775 shares of the company’s stock worth $111,000 after buying an additional 817 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of LeMaitre Vascular by 6.7% in the second quarter. Nationwide Fund Advisors now owns 9,293 shares of the company’s stock valued at $133,000 after buying an additional 580 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of LeMaitre Vascular by 19.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,330 shares of the company’s stock valued at $162,000 after buying an additional 1,826 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of LeMaitre Vascular during the first quarter valued at about $185,000. Finally, Greenleaf Trust purchased a new position in shares of LeMaitre Vascular during the second quarter valued at about $210,000. 59.88% of the stock is currently owned by institutional investors and hedge funds.
About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company and its subsidiaries develop, manufacture and market medical devices and implants used primarily in the field of vascular surgery. It operates in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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