LeMaitre Vascular, Inc. (NASDAQ:LMAT) was downgraded by Benchmark Co. from a “buy” rating to a “hold” rating in a report released on Friday.
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Canaccord Genuity downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Monday, July 10th. Zacks Investment Research raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price (up previously from $29.00) on shares of LeMaitre Vascular in a report on Sunday, July 30th. Finally, First Analysis cut shares of LeMaitre Vascular from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a report on Friday. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $32.80.
LeMaitre Vascular (LMAT) traded down 15.97% during midday trading on Friday, hitting $31.26. The stock had a trading volume of 1,720,831 shares. The company has a market cap of $594.63 million, a PE ratio of 44.66 and a beta of 0.67. The stock’s 50 day moving average price is $37.64 and its 200-day moving average price is $32.61. LeMaitre Vascular has a 52 week low of $19.82 and a 52 week high of $39.88.
LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings data on Thursday, October 26th. The medical instruments supplier reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. LeMaitre Vascular had a net margin of 15.81% and a return on equity of 16.75%. The company had revenue of $24.80 million during the quarter, compared to the consensus estimate of $25.49 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that LeMaitre Vascular will post $0.80 earnings per share for the current year.
LeMaitre Vascular announced that its Board of Directors has approved a share repurchase plan on Thursday, July 27th that permits the company to repurchase $7.50 million in shares. This repurchase authorization permits the medical instruments supplier to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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In other LeMaitre Vascular news, CEO George W. Lemaitre sold 15,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $37.13, for a total value of $556,950.00. Following the completion of the sale, the chief executive officer now owns 3,325,508 shares in the company, valued at $123,476,112.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David B. Roberts sold 48,317 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.12, for a total transaction of $1,600,259.04. Following the completion of the sale, the insider now owns 30,105 shares of the company’s stock, valued at approximately $997,077.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 373,121 shares of company stock valued at $12,825,992. Corporate insiders own 23.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its stake in LeMaitre Vascular by 11,612.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 3,716 shares during the last quarter. Victory Capital Management Inc. lifted its stake in LeMaitre Vascular by 181.2% in the third quarter. Victory Capital Management Inc. now owns 4,139 shares of the medical instruments supplier’s stock valued at $155,000 after acquiring an additional 2,667 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in LeMaitre Vascular in the second quarter valued at $137,000. LS Investment Advisors LLC lifted its stake in LeMaitre Vascular by 41.8% in the third quarter. LS Investment Advisors LLC now owns 4,510 shares of the medical instruments supplier’s stock valued at $169,000 after acquiring an additional 1,330 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in LeMaitre Vascular in the second quarter valued at $156,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.
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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