David B. Roberts Sells 48,317 Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) Stock
LeMaitre Vascular, Inc. (NASDAQ:LMAT) insider David B. Roberts sold 48,317 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.12, for a total transaction of $1,600,259.04. Following the completion of the transaction, the insider now owns 30,105 shares in the company, valued at $997,077.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
LeMaitre Vascular, Inc. (NASDAQ:LMAT) traded up 0.32% during mid-day trading on Tuesday, reaching $34.06. 200,834 shares of the company’s stock traded hands. The firm has a 50 day moving average of $30.31 and a 200 day moving average of $27.02. LeMaitre Vascular, Inc. has a 1-year low of $16.80 and a 1-year high of $36.09. The firm has a market cap of $640.84 million, a PE ratio of 48.66 and a beta of 0.65.
LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $25.80 million for the quarter, compared to the consensus estimate of $25.42 million. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. Analysts forecast that LeMaitre Vascular, Inc. will post $0.80 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.055 per share. The ex-dividend date is Monday, August 21st. This represents a $0.22 dividend on an annualized basis and a yield of 0.65%. LeMaitre Vascular’s payout ratio is 31.88%.
LeMaitre Vascular announced that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the medical instruments supplier to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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LMAT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Friday, April 28th. Stifel Nicolaus raised their price target on shares of LeMaitre Vascular from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Canaccord Genuity restated a “buy” rating and issued a $28.00 price target on shares of LeMaitre Vascular in a research report on Thursday, April 27th. Craig Hallum started coverage on shares of LeMaitre Vascular in a research report on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price target on the stock. Finally, Benchmark Co. lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.17.
A number of large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in shares of LeMaitre Vascular by 52.3% in the first quarter. Ameriprise Financial Inc. now owns 201,508 shares of the medical instruments supplier’s stock worth $4,963,000 after buying an additional 69,186 shares during the last quarter. Conestoga Capital Advisors LLC purchased a new stake in shares of LeMaitre Vascular during the first quarter worth about $9,549,000. Russell Investments Group Ltd. increased its stake in shares of LeMaitre Vascular by 211.2% in the first quarter. Russell Investments Group Ltd. now owns 150,413 shares of the medical instruments supplier’s stock worth $3,705,000 after buying an additional 102,078 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of LeMaitre Vascular during the first quarter worth about $988,000. Finally, Bank of New York Mellon Corp increased its stake in shares of LeMaitre Vascular by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 88,552 shares of the medical instruments supplier’s stock worth $2,181,000 after buying an additional 1,408 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.
About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged 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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