Congress Asset Management Co. MA raised its stake in LeMaitre Vascular, Inc. (NASDAQ:LMAT) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,593 shares of the medical instruments supplier’s stock after buying an additional 4,110 shares during the period. Congress Asset Management Co. MA owned approximately 0.18% of LeMaitre Vascular worth $1,080,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in LMAT. Conestoga Capital Advisors LLC purchased a new position in LeMaitre Vascular during the first quarter valued at approximately $9,549,000. Summit Creek Advisors LLC bought a new stake in shares of LeMaitre Vascular during the first quarter valued at $5,311,000. Columbia Wanger Asset Management LLC boosted its stake in shares of LeMaitre Vascular by 21.0% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,093,903 shares of the medical instruments supplier’s stock valued at $26,943,000 after buying an additional 189,608 shares during the last quarter. Thomson Horstmann & Bryant Inc. boosted its stake in shares of LeMaitre Vascular by 111.3% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 359,339 shares of the medical instruments supplier’s stock valued at $8,850,000 after buying an additional 189,280 shares during the last quarter. Finally, Perkins Capital Management Inc. bought a new stake in shares of LeMaitre Vascular during the first quarter valued at $2,677,000. Institutional investors and hedge funds own 67.12% of the company’s stock.
Shares of LeMaitre Vascular, Inc. (NASDAQ LMAT) opened at 33.96 on Friday. LeMaitre Vascular, Inc. has a 1-year low of $16.80 and a 1-year high of $36.09. The firm has a market cap of $645.99 million, a PE ratio of 48.51 and a beta of 0.65. The company’s 50-day moving average price is $31.57 and its 200 day moving average price is $27.77.
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, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $25.42 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. On average, analysts predict that LeMaitre Vascular, Inc. will post $0.80 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be paid 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 is presently 31.88%.
LeMaitre Vascular declared that its Board of Directors has approved a share repurchase program on Thursday, July 27th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the medical instruments supplier to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Several equities research analysts have recently weighed in on LMAT shares. Zacks Investment Research raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Tuesday, August 1st. Benchmark Co. cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. They noted that the move was a valuation call. Stifel Nicolaus increased their price target on LeMaitre Vascular from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Canaccord Genuity cut LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research note on Monday, July 10th. Finally, Craig Hallum started coverage on LeMaitre Vascular in a research note on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price target for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.17.
In other news, insider Trent G. Kamke sold 15,780 shares of LeMaitre Vascular stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $30.28, for a total transaction of $477,818.40. Following the completion of the sale, the insider now owns 31,341 shares of the company’s stock, valued at $949,005.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael T. Wijas sold 2,346 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $31.42, for a total transaction of $73,711.32. Following the sale, the vice president now directly owns 3,584 shares of the company’s stock, valued at approximately $112,609.28. The disclosure for this sale can be found here. Insiders have sold 242,534 shares of company stock valued at $8,094,219 in the last ninety days. Insiders own 23.70% 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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