$25.42 Million in Sales Expected for LeMaitre Vascular, Inc. (LMAT) This Quarter
Wall Street brokerages forecast that LeMaitre Vascular, Inc. (NASDAQ:LMAT) will announce sales of $25.42 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for LeMaitre Vascular’s earnings. The highest sales estimate is $25.45 million and the lowest is $25.40 million. LeMaitre Vascular reported sales of $23.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The business is expected to issue its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that LeMaitre Vascular will report full year sales of $25.42 million for the current fiscal year, with estimates ranging from $101.91 million to $102.00 million. For the next year, analysts expect that the company will report sales of $110.95 million per share, with estimates ranging from $110.05 million to $112.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow LeMaitre Vascular.
LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The firm had revenue of $25.80 million for the quarter, compared to the consensus estimate of $25.42 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year.
A number of brokerages have commented on LMAT. Zacks Investment Research raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price objective (up from $29.00) on shares of LeMaitre Vascular in a report on Sunday, July 30th. Canaccord Genuity lowered LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price objective on the stock. in a report on Monday, July 10th. 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. Finally, Craig Hallum began coverage on LeMaitre Vascular in a report on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. LeMaitre Vascular presently has a consensus rating of “Buy” and an average price target of $30.17.
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Shares of LeMaitre Vascular (NASDAQ LMAT) opened at 33.96 on Friday. The firm has a market cap of $645.99 million, a P/E ratio of 48.51 and a beta of 0.65. The firm’s 50-day moving average is $31.57 and its 200-day moving average is $27.77. LeMaitre Vascular has a 1-year low of $16.80 and a 1-year high of $36.09.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, August 21st. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 31.88%.
LeMaitre Vascular announced that its board has initiated a stock repurchase program on Thursday, July 27th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
In other news, insider David B. Roberts sold 48,317 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.12, for a total transaction of $1,600,259.04. Following the sale, the insider now directly owns 30,105 shares of the company’s stock, valued at approximately $997,077.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO George W. Lemaitre sold 11,300 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $32.79, for a total value of $370,527.00. Following the sale, the chief executive officer now directly owns 3,405,508 shares in the company, valued at $111,666,607.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 242,534 shares of company stock worth $8,094,219. 23.70% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in LMAT. BNP Paribas Arbitrage SA raised its stake in 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 valued at $117,000 after buying an additional 3,716 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in LeMaitre Vascular during the second quarter valued at about $137,000. Royce & Associates LP bought a new stake in LeMaitre Vascular during the second quarter valued at about $156,000. Royal Bank of Canada raised its stake in LeMaitre Vascular by 856.5% in the second quarter. Royal Bank of Canada now owns 5,031 shares of the medical instruments supplier’s stock valued at $157,000 after buying an additional 4,505 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in 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 valued at $198,000 after buying an additional 6,224 shares during the period. 67.12% of the stock is currently owned by institutional investors.
LeMaitre Vascular Company Profile
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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