LeMaitre Vascular, Inc. (LMAT) Expected to Announce Quarterly Sales of $26.29 Million
Wall Street brokerages expect that LeMaitre Vascular, Inc. (NASDAQ:LMAT) will report sales of $26.29 million for the current quarter, Zacks reports. Two analysts have made estimates for LeMaitre Vascular’s earnings, with the highest sales estimate coming in at $26.57 million and the lowest estimate coming in at $26.00 million. LeMaitre Vascular reported sales of $23.29 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The company is expected to report its next earnings results on Tuesday, February 20th.
On average, analysts expect that LeMaitre Vascular will report full year sales of $26.29 million for the current year, with estimates ranging from $100.70 million to $101.28 million. For the next financial year, analysts forecast that the company will report sales of $110.85 million per share, with estimates ranging from $109.90 million to $111.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for LeMaitre Vascular.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Thursday, October 26th. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. LeMaitre Vascular had a net margin of 15.81% and a return on equity of 16.16%. The company had revenue of $24.80 million during the quarter, compared to analyst estimates of $25.49 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year.
Several equities analysts have weighed in on LMAT shares. Canaccord Genuity downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research report on Monday, July 10th. Benchmark Co. downgraded 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. BidaskClub downgraded LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus reaffirmed 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. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.20.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd 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 0.69%. The ex-dividend date is Tuesday, November 21st. LeMaitre Vascular’s dividend payout ratio is presently 28.57%.
LeMaitre Vascular announced that its board has authorized a stock repurchase program on Thursday, July 27th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the medical instruments supplier to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, insider David B. Roberts sold 26,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $36.67, for a total transaction of $978,465.61. Following the completion of the sale, the insider now owns 48,108 shares in the company, valued at $1,764,120.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George W. Lemaitre sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $33.62, for a total value of $336,200.00. Following the sale, the chief executive officer now owns 3,436,808 shares of the company’s stock, valued at approximately $115,545,484.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 285,854 shares of company stock valued at $9,851,441. 23.70% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of LMAT. Bank of New York Mellon Corp lifted its stake in LeMaitre Vascular by 1.6% during 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 purchasing an additional 1,408 shares during the last quarter. Prudential Financial Inc. lifted its stake in LeMaitre Vascular by 2.1% during the first quarter. Prudential Financial Inc. now owns 97,350 shares of the medical instruments supplier’s stock worth $2,398,000 after purchasing an additional 2,040 shares during the last quarter. American International Group Inc. lifted its stake in LeMaitre Vascular by 7.0% during the first quarter. American International Group Inc. now owns 8,310 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 545 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in LeMaitre Vascular by 6.6% during the first quarter. TIAA CREF Investment Management LLC now owns 105,157 shares of the medical instruments supplier’s stock worth $2,590,000 after purchasing an additional 6,472 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in LeMaitre Vascular by 6.5% during the first quarter. Vanguard Group Inc. now owns 660,331 shares of the medical instruments supplier’s stock worth $16,264,000 after purchasing an additional 40,448 shares during the last quarter. Hedge funds and other institutional investors own 68.29% 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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