$0.20 EPS Expected for LeMaitre Vascular, Inc. (LMAT) This Quarter
Wall Street analysts forecast that LeMaitre Vascular, Inc. (NASDAQ:LMAT) will announce $0.20 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for LeMaitre Vascular’s earnings. LeMaitre Vascular posted earnings per share of $0.17 during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.6%. The company is expected to issue 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 fiscal year, with EPS estimates ranging from $0.79 to $0.80. For the next fiscal year, analysts expect that the firm will post earnings of $0.86 per share, with EPS estimates ranging from $0.82 to $0.92. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for LeMaitre Vascular.
LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.80 million during the quarter, compared to analysts’ expectations of $25.42 million. During the same period last year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year.
Several research firms have recently weighed in on LMAT. Zacks Investment Research raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 target price (up from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Benchmark Co. raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. BidaskClub downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $30.00 target price on shares of LeMaitre Vascular in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.00.
LeMaitre Vascular (NASDAQ LMAT) traded down 0.147% during mid-day trading on Thursday, hitting $37.375. 17,916 shares of the stock traded hands. LeMaitre Vascular has a 12-month low of $18.55 and a 12-month high of $39.29. The stock has a 50 day moving average price of $37.29 and a 200 day moving average price of $31.56. The firm has a market cap of $710.95 million, a PE ratio of 53.393 and a beta of 0.67.
LeMaitre Vascular declared that its board has authorized a stock repurchase program on Thursday, July 27th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Lawrence J. Jasinski sold 2,030 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $34.23, for a total value of $69,486.90. Following the transaction, the director now directly owns 8,333 shares of the company’s stock, valued at $285,238.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George W. Lemaitre sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $37.13, for a total transaction of $556,950.00. Following the transaction, the chief executive officer now directly owns 3,325,508 shares in the company, valued at $123,476,112.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 373,121 shares of company stock worth $12,825,992. 23.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in LMAT. Conestoga Capital Advisors LLC grew its position in LeMaitre Vascular by 45.8% during the second quarter. Conestoga Capital Advisors LLC now owns 565,069 shares of the medical instruments supplier’s stock valued at $17,641,000 after purchasing an additional 177,379 shares in the last quarter. Vanguard Group Inc. grew its position in LeMaitre Vascular by 23.5% during the second quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock valued at $25,462,000 after purchasing an additional 155,249 shares in the last quarter. Janus Henderson Group PLC purchased a new position in LeMaitre Vascular during the second quarter valued at approximately $4,661,000. Bank of New York Mellon Corp grew its position in LeMaitre Vascular by 137.9% during the second quarter. Bank of New York Mellon Corp now owns 210,628 shares of the medical instruments supplier’s stock valued at $6,574,000 after purchasing an additional 122,076 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in LeMaitre Vascular during the second quarter valued at approximately $3,197,000. 66.34% of the stock is currently owned by hedge funds and other 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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