LeMaitre Vascular (NASDAQ:LMAT) Issues Q2 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.45-0.50 for the period, compared to the consensus EPS estimate of $0.44. The company issued revenue guidance of $53.7-56.1 million, compared to the consensus revenue estimate of $54.29 million. LeMaitre Vascular also updated its FY24 guidance to $1.73-1.84 EPS.

LeMaitre Vascular Stock Up 11.2 %

Shares of NASDAQ LMAT traded up $7.45 during trading on Friday, reaching $74.22. 329,984 shares of the company traded hands, compared to its average volume of 110,751. The firm has a 50 day simple moving average of $65.93 and a 200-day simple moving average of $58.85. The stock has a market capitalization of $1.67 billion, a PE ratio of 49.15, a P/E/G ratio of 3.20 and a beta of 0.88. LeMaitre Vascular has a 52-week low of $44.27 and a 52-week high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $53.48 million for the quarter, compared to the consensus estimate of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.75%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. As a group, research analysts predict that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Wednesday, May 15th. LeMaitre Vascular’s payout ratio is 42.38%.

Analyst Upgrades and Downgrades

LMAT has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of LeMaitre Vascular in a research note on Tuesday, February 6th. They set a sector weight rating on the stock. Barrington Research boosted their target price on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a report on Friday. StockNews.com raised shares of LeMaitre Vascular from a hold rating to a buy rating in a report on Friday. JMP Securities boosted their target price on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the stock a market outperform rating in a report on Friday. Finally, Stifel Nicolaus raised shares of LeMaitre Vascular from a hold rating to a buy rating and boosted their target price for the stock from $59.00 to $75.00 in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $73.83.

Insider Transactions at LeMaitre Vascular

In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the completion of the sale, the director now directly owns 2,278 shares of the company’s stock, valued at $157,182. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Lawrence J. Jasinski sold 5,110 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total value of $344,925.00. Following the completion of the transaction, the director now directly owns 5,309 shares of the company’s stock, valued at approximately $358,357.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Roush sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the completion of the transaction, the director now directly owns 2,278 shares of the company’s stock, valued at $157,182. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,036 shares of company stock worth $7,873,749. Insiders own 10.79% of the company’s stock.

About LeMaitre Vascular

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.