Zacks: Analysts Expect LeMaitre Vascular, Inc. (LMAT) Will Announce Earnings of $0.20 Per Share
Wall Street analysts expect LeMaitre Vascular, Inc. (NASDAQ:LMAT) to report $0.20 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for LeMaitre Vascular’s earnings. LeMaitre Vascular posted earnings per share of $0.17 in the same quarter last year, which indicates a positive year-over-year growth rate of 17.6%. The business is expected to report its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that LeMaitre Vascular will report full year earnings of $0.79 per share for the current financial year, with EPS estimates ranging from $0.79 to $0.80. For the next financial year, analysts forecast that the business will report earnings of $0.86 per share, with EPS estimates ranging from $0.82 to $0.92. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover LeMaitre Vascular.
LeMaitre Vascular (NASDAQ:LMAT) last posted its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. The business had revenue of $25.80 million during the quarter, compared to analyst estimates of $25.42 million. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS.
LMAT has been the subject of a number of analyst reports. Canaccord Genuity restated a “buy” rating and set a $28.00 target price on shares of LeMaitre Vascular in a report on Thursday, April 27th. Stifel Nicolaus upped their target price on LeMaitre Vascular from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Friday, April 28th. Craig Hallum initiated coverage on LeMaitre Vascular in a report on Tuesday, June 6th. They set a “hold” rating and a $31.00 target price for the company. Finally, Benchmark Co. lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a 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’s stock. LeMaitre Vascular presently has an average rating of “Buy” and an average target price of $30.17.
In other news, insider Trent G. Kamke sold 15,780 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $30.28, for a total transaction of $477,818.40. Following the transaction, the insider now directly owns 31,341 shares of the company’s stock, valued at $949,005.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter R. Gebauer sold 22,067 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $34.28, for a total value of $756,456.76. Following the transaction, the insider now directly owns 4,486 shares in the company, valued at $153,780.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 242,534 shares of company stock worth $8,094,219. Insiders own 23.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Conestoga Capital Advisors LLC purchased a new position in LeMaitre Vascular during the first quarter valued at about $9,549,000. Summit Creek Advisors LLC purchased a new position in LeMaitre Vascular during the first quarter valued at about $5,311,000. Columbia Wanger Asset Management LLC increased its position in LeMaitre Vascular by 21.0% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,093,903 shares of the medical instruments supplier’s stock valued at $26,943,000 after buying an additional 189,608 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its position in LeMaitre Vascular by 111.3% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 359,339 shares of the medical instruments supplier’s stock valued at $8,850,000 after buying an additional 189,280 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in LeMaitre Vascular by 23.5% in the second quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock valued at $25,462,000 after buying an additional 155,249 shares during the last quarter. 67.12% of the stock is currently owned by institutional investors and hedge funds.
LeMaitre Vascular (LMAT) traded down 1.67% during mid-day trading on Thursday, hitting $34.08. The company’s stock had a trading volume of 149,920 shares. The company has a market cap of $648.27 million, a P/E ratio of 48.69 and a beta of 0.65. LeMaitre Vascular has a 12-month low of $16.80 and a 12-month high of $36.09. The firm’s 50-day moving average is $31.40 and its 200-day moving average is $27.65.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Monday, August 21st. LeMaitre Vascular’s payout ratio is presently 31.88%.
LeMaitre Vascular declared that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the medical instruments supplier to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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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