LeMaitre Vascular (NASDAQ:LMAT) Rating Lowered to Hold at StockNews.com

LeMaitre Vascular (NASDAQ:LMAT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also weighed in on LMAT. JMP Securities lifted their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the stock a “market outperform” rating in a report on Friday, May 3rd. KeyCorp initiated coverage on LeMaitre Vascular in a report on Tuesday, February 6th. They issued a “sector weight” rating for the company. Barrington Research increased their price target on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus raised LeMaitre Vascular from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $75.00 in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.83.

LeMaitre Vascular Stock Performance

NASDAQ:LMAT opened at $76.13 on Friday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 50.42, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88. The firm has a 50-day moving average price of $66.84 and a two-hundred day moving average price of $59.65. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $76.24.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.57%. The company had revenue of $53.48 million for the quarter, compared to the consensus estimate of $51.50 million. During the same period in the previous year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts forecast that LeMaitre Vascular will post 1.78 earnings per share for the current year.

Insider Transactions at LeMaitre Vascular

In other news, Director Lawrence J. Jasinski sold 5,110 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total transaction of $344,925.00. Following the transaction, the director now directly owns 5,309 shares of the company’s stock, valued at $358,357.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other LeMaitre Vascular news, Director David B. Roberts sold 5,025 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $75.62, for a total value of $379,990.50. Following the completion of the transaction, the director now owns 14,114 shares in the company, valued at $1,067,300.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence J. Jasinski sold 5,110 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total transaction of $344,925.00. Following the sale, the director now directly owns 5,309 shares in the company, valued at approximately $358,357.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,967 shares of company stock worth $14,072,324. Insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its position in LeMaitre Vascular by 24.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 195,983 shares of the medical instruments supplier’s stock valued at $10,677,000 after purchasing an additional 38,958 shares during the last quarter. Vanguard Group Inc. increased its holdings in LeMaitre Vascular by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,510,567 shares of the medical instruments supplier’s stock worth $82,296,000 after buying an additional 33,500 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in LeMaitre Vascular by 0.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,927,971 shares of the medical instruments supplier’s stock valued at $109,432,000 after purchasing an additional 10,390 shares during the period. Johnson Investment Counsel Inc. boosted its stake in shares of LeMaitre Vascular by 52.6% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 32,745 shares of the medical instruments supplier’s stock worth $1,784,000 after buying an additional 11,280 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in LeMaitre Vascular by 152.9% in the third quarter. Dark Forest Capital Management LP now owns 13,857 shares of the medical instruments supplier’s stock valued at $755,000 after acquiring an additional 8,378 shares during the period. Institutional investors own 84.64% of the company’s stock.

About LeMaitre Vascular

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.