LeMaitre Vascular, Inc. (LMAT) Given Average Rating of “Buy” by Brokerages
Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) have earned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $30.17.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target (up from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Canaccord Genuity cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a research report on Monday, July 10th. Benchmark Co. cut 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. Finally, Craig Hallum assumed coverage on shares of LeMaitre Vascular in a research report on Tuesday, June 6th. They set a “hold” rating and a $31.00 price target on the stock.
Shares of LeMaitre Vascular (NASDAQ:LMAT) traded up 0.73% during mid-day trading on Friday, hitting $32.99. The company had a trading volume of 220,949 shares. The company has a market capitalization of $627.54 million, a P/E ratio of 47.13 and a beta of 0.65. The firm’s 50-day moving average price is $31.03 and its 200 day moving average price is $27.38. LeMaitre Vascular has a one year low of $16.80 and a one year high of $36.09.
LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $25.42 million. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. Analysts predict that LeMaitre Vascular will post $0.80 earnings per share for the current fiscal year.
LeMaitre Vascular declared that its Board of Directors has approved a share buyback plan on Thursday, July 27th that authorizes the company to repurchase $7.50 million in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 23rd will be paid a $0.055 dividend. The ex-dividend date is Monday, August 21st. This represents a $0.22 dividend on an annualized basis and a yield of 0.67%. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 31.88%.
In related news, Chairman George W. Lemaitre sold 21,225 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $30.11, for a total value of $639,084.75. Following the transaction, the chairman now owns 3,386,295 shares in the company, valued at approximately $101,961,342.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lawrence J. Jasinski sold 6,500 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.47, for a total transaction of $224,055.00. Following the completion of the transaction, the director now owns 12,863 shares in the company, valued at approximately $443,387.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,759 shares of company stock worth $8,733,304. 23.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of LeMaitre Vascular by 11,612.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 3,716 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of LeMaitre Vascular during the second quarter worth about $137,000. Royce & Associates LP acquired a new position in shares of LeMaitre Vascular during the second quarter worth about $156,000. Oppenheimer Asset Management Inc. raised its position in shares of LeMaitre Vascular by 4,751.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,355 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 6,224 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of LeMaitre Vascular by 7.0% in the first quarter. American International Group Inc. now owns 8,310 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 545 shares during the last quarter. Institutional investors and hedge funds 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.
Receive News & Ratings for LeMaitre Vascular Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LeMaitre Vascular Inc. and related companies with MarketBeat.com's FREE daily email newsletter.