LeMaitre Vascular (NASDAQ:LMAT) Trading 4.2% Higher After Dividend Announcement

Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) rose 4.2% on Monday after the company announced a dividend. The company traded as high as $80.61 and last traded at $82.04. Approximately 19,169 shares were traded during trading, a decline of 88% from the average daily volume of 162,392 shares. The stock had previously closed at $78.70.

The newly announced dividend which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. LeMaitre Vascular’s dividend payout ratio is currently 41.24%.

Analysts Set New Price Targets

LMAT has been the subject of several research analyst reports. Barrington Research cut LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Oppenheimer lowered shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Lake Street Capital boosted their target price on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company assumed coverage on shares of LeMaitre Vascular in a report on Thursday, February 13th. They issued an “equal weight” rating and a $95.00 price target for the company. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.14.

LeMaitre Vascular Trading Up 2.2 %

The stock has a market capitalization of $1.82 billion, a PE ratio of 43.96, a PEG ratio of 2.22 and a beta of 0.89. The business’s 50 day moving average is $85.13 and its 200 day moving average is $93.30.

LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. The business had revenue of $59.87 million for the quarter, compared to the consensus estimate of $57.61 million. During the same period in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that LeMaitre Vascular, Inc. will post 1.94 EPS for the current year.

Insider Transactions at LeMaitre Vascular

In other news, insider Trent G. Kamke sold 2,009 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.12, for a total transaction of $164,979.08. Following the transaction, the insider now owns 5,564 shares in the company, valued at approximately $456,915.68. This trade represents a 26.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.79% of the company’s stock.

Institutional Trading of LeMaitre Vascular

A number of hedge funds have recently added to or reduced their stakes in LMAT. New York State Teachers Retirement System raised its holdings in shares of LeMaitre Vascular by 1.2% in the 4th quarter. New York State Teachers Retirement System now owns 8,189 shares of the medical instruments supplier’s stock valued at $755,000 after purchasing an additional 100 shares in the last quarter. Flputnam Investment Management Co. raised its stake in LeMaitre Vascular by 3.6% in the fourth quarter. Flputnam Investment Management Co. now owns 2,923 shares of the medical instruments supplier’s stock worth $269,000 after buying an additional 102 shares in the last quarter. Norden Group LLC lifted its holdings in LeMaitre Vascular by 4.5% during the fourth quarter. Norden Group LLC now owns 2,371 shares of the medical instruments supplier’s stock worth $218,000 after buying an additional 103 shares during the period. Blue Barn Wealth LLC boosted its position in LeMaitre Vascular by 4.4% during the 4th quarter. Blue Barn Wealth LLC now owns 2,485 shares of the medical instruments supplier’s stock valued at $229,000 after acquiring an additional 104 shares in the last quarter. Finally, Shaker Investments LLC OH increased its holdings in shares of LeMaitre Vascular by 0.8% in the 4th quarter. Shaker Investments LLC OH now owns 13,948 shares of the medical instruments supplier’s stock valued at $1,285,000 after acquiring an additional 112 shares during the period. 84.64% of the stock is owned by hedge funds and other institutional investors.

LeMaitre Vascular Company Profile

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.