Zacks Investment Research upgraded shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The brokerage currently has $35.00 price objective on the medical instruments supplier’s stock.
According to Zacks, “LEMAITRE VASCULAR, INC. is a leading global provider of innovative devices for the treatment of peripheral vascular disease. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre’s diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time. “
Several other equities analysts have also recently weighed in on the stock. Stifel Nicolaus reaffirmed a buy rating on shares of LeMaitre Vascular in a research note on Sunday, October 29th. Canaccord Genuity decreased their price target on shares of 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. cut shares of LeMaitre Vascular from a buy rating to a hold rating in a research note on Friday, October 27th. First Analysis cut shares of LeMaitre Vascular from an overweight rating to an equal weight rating and set a $34.00 price target for the company. in a research note on Friday, October 27th. Finally, BidaskClub cut 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 company. The stock currently has a consensus rating of Hold and a consensus target price of $32.20.
Shares of LeMaitre Vascular (NASDAQ:LMAT) traded up $0.03 on Tuesday, hitting $32.01. 174,095 shares of the stock traded hands, compared to its average volume of 240,769. The company has a market capitalization of $608.92 million, a P/E ratio of 41.57, a PEG ratio of 2.54 and a beta of 0.55.
LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $24.80 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.17 EPS. sell-side analysts predict that LeMaitre Vascular will post 0.84 EPS for the current year.
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LeMaitre Vascular declared that its board has authorized a stock 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 repurchase 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. 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 annualized dividend and a dividend yield of 0.69%. LeMaitre Vascular’s dividend payout ratio is presently 28.57%.
In other LeMaitre Vascular news, CEO George W. Lemaitre sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $37.13, for a total transaction of $556,950.00. Following the completion of the sale, the chief executive officer now owns 3,325,508 shares of the company’s stock, valued at approximately $123,476,112.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence J. Jasinski sold 2,030 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $34.23, for a total value of $69,486.90. Following the sale, the director now directly owns 8,333 shares of the company’s stock, valued at approximately $285,238.59. The disclosure for this sale can be found here. Insiders sold 237,537 shares of company stock valued at $8,251,182 over the last three months. 23.70% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its holdings in LeMaitre Vascular by 97.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,405 shares of the medical instruments supplier’s stock valued at $277,000 after purchasing an additional 3,657 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in LeMaitre Vascular by 17.1% during the 3rd quarter. Principal Financial Group Inc. now owns 119,887 shares of the medical instruments supplier’s stock valued at $4,486,000 after purchasing an additional 17,480 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in LeMaitre Vascular during the 3rd quarter valued at $581,000. American Century Companies Inc. lifted its holdings in LeMaitre Vascular by 2.6% during the 3rd quarter. American Century Companies Inc. now owns 202,628 shares of the medical instruments supplier’s stock valued at $7,582,000 after purchasing an additional 5,101 shares during the last quarter. Finally, Concorde Asset Management LLC lifted its holdings in LeMaitre Vascular by 77.5% during the 3rd quarter. Concorde Asset Management LLC now owns 35,112 shares of the medical instruments supplier’s stock valued at $1,313,000 after purchasing an additional 15,330 shares during the last quarter. 68.29% of the stock is owned by institutional investors and hedge funds.
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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