Several other equities analysts also recently issued reports on the stock. Canaccord Genuity decreased their price objective on shares of LeMaitre Vascular from $30.00 to $29.00 and set a hold rating on the stock in a report on Friday, October 27th. Benchmark Co. downgraded shares of LeMaitre Vascular from a buy rating to a hold rating in a report on Friday, October 27th. First Analysis downgraded shares of LeMaitre Vascular from an overweight rating to an equal weight rating and set a $34.00 price objective on the stock. in a report on Friday, October 27th. Zacks Investment Research downgraded shares of LeMaitre Vascular from a buy rating to a hold rating in a report on Thursday, September 28th. Finally, BidaskClub downgraded shares of LeMaitre Vascular from a buy rating to a hold rating in a research note on Wednesday, August 23rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $32.20.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Thursday, October 26th. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $25.49 million. LeMaitre Vascular had a net margin of 15.81% and a return on equity of 16.16%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be paid a $0.055 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.22 dividend on an annualized basis and a yield of 0.69%. LeMaitre Vascular’s dividend payout ratio is currently 28.57%.
LeMaitre Vascular declared that its Board of Directors has initiated 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 repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other LeMaitre Vascular news, insider David B. Roberts sold 48,317 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.12, for a total value of $1,600,259.04. Following the transaction, the insider now directly owns 30,105 shares of the company’s stock, valued at approximately $997,077.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George W. Lemaitre sold 10,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $33.62, for a total transaction of $336,200.00. Following the transaction, the chief executive officer now directly owns 3,436,808 shares in the company, valued at $115,545,484.96. The disclosure for this sale can be found here. Insiders sold a total of 285,854 shares of company stock worth $9,851,441 over the last three months. 23.70% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of LMAT. BNP Paribas Arbitrage SA grew its stake in shares of LeMaitre Vascular by 11,612.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 3,716 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of LeMaitre Vascular during the 2nd quarter worth $137,000. Victory Capital Management Inc. grew its stake in shares of LeMaitre Vascular by 181.2% during the 3rd quarter. Victory Capital Management Inc. now owns 4,139 shares of the medical instruments supplier’s stock worth $155,000 after purchasing an additional 2,667 shares during the period. Royce & Associates LP acquired a new position in shares of LeMaitre Vascular during the 2nd quarter worth $156,000. Finally, Royal Bank of Canada grew its stake in shares of LeMaitre Vascular by 856.5% during the 2nd quarter. Royal Bank of Canada now owns 5,031 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 4,505 shares during the period. 68.29% of the stock is currently owned by institutional investors and hedge funds.
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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