Conestoga Capital Advisors LLC increased its stake in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) by 51.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 854,644 shares of the medical instruments supplier’s stock after acquiring an additional 289,575 shares during the period. Conestoga Capital Advisors LLC owned 4.49% of LeMaitre Vascular worth $31,981,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of LeMaitre Vascular by 5.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 158,761 shares of the medical instruments supplier’s stock valued at $4,956,000 after acquiring an additional 8,348 shares during the last quarter. Federated Investors Inc. PA boosted its stake in LeMaitre Vascular by 3.2% during the 2nd quarter. Federated Investors Inc. PA now owns 168,678 shares of the medical instruments supplier’s stock valued at $5,266,000 after purchasing an additional 5,173 shares during the period. Bank of New York Mellon Corp boosted its stake in LeMaitre Vascular by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 88,552 shares of the medical instruments supplier’s stock valued at $2,181,000 after purchasing an additional 1,408 shares during the period. Thomson Horstmann & Bryant Inc. boosted its stake in LeMaitre Vascular by 1.8% during the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 365,977 shares of the medical instruments supplier’s stock valued at $11,425,000 after purchasing an additional 6,638 shares during the period. Finally, Texas Permanent School Fund bought a new stake in LeMaitre Vascular during the 2nd quarter valued at approximately $287,000. 68.29% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on LMAT. Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating on shares of LeMaitre Vascular in a research note on Sunday. Canaccord Genuity decreased their target price on LeMaitre Vascular from $30.00 to $29.00 and set a “hold” rating for the company in a research note on Friday, October 27th. Benchmark Co. downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Finally, First Analysis downgraded LeMaitre Vascular from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research note on Friday, October 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. LeMaitre Vascular currently has an average rating of “Hold” and an average target price of $32.20.
Shares of LeMaitre Vascular, Inc. (NASDAQ LMAT) traded down 0.81% during mid-day trading on Wednesday, reaching $31.75. The company had a trading volume of 62,322 shares. The firm’s 50-day moving average is $37.29 and its 200 day moving average is $32.76. LeMaitre Vascular, Inc. has a 12 month low of $19.82 and a 12 month high of $39.88. The company has a market capitalization of $603.95 million, a price-to-earnings ratio of 45.36 and a beta of 0.67.
LeMaitre Vascular (NASDAQ:LMAT) last posted its earnings results on Thursday, October 26th. The medical instruments supplier reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. LeMaitre Vascular had a return on equity of 16.16% and a net margin of 15.81%. The company had revenue of $24.80 million for the quarter, compared to the consensus estimate of $25.49 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts predict that LeMaitre Vascular, Inc. will post $0.82 earnings per share for the current year.
LeMaitre Vascular declared that its board has approved a stock repurchase plan on Thursday, July 27th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, November 21st. LeMaitre Vascular’s payout ratio is 28.57%.
In other news, CEO George W. Lemaitre sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $37.13, for a total value of $556,950.00. Following the transaction, the chief executive officer now owns 3,325,508 shares of the company’s stock, valued at $123,476,112.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman George W. Lemaitre sold 58,700 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $33.97, for a total value of $1,994,039.00. Following the completion of the transaction, the chairman now directly owns 3,471,808 shares in the company, valued at approximately $117,937,317.76. The disclosure for this sale can be found here. Insiders sold 366,621 shares of company stock worth $12,601,937 in the last ninety days. 23.70% of the stock is owned by company insiders.
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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