Wells Fargo & Company Cuts LeMaitre Vascular (NASDAQ:LMAT) Price Target to $94.00

LeMaitre Vascular (NASDAQ:LMAT) had its target price decreased by Wells Fargo & Company from $104.00 to $94.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical instruments supplier’s stock.

A number of other analysts also recently commented on LMAT. Weiss Ratings downgraded LeMaitre Vascular from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Wall Street Zen cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research lowered LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Citigroup reiterated a “market outperform” rating on shares of LeMaitre Vascular in a research report on Tuesday, July 21st. Finally, Barrington Research downgraded shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.60.

LeMaitre Vascular Trading Up 0.8%

Shares of NASDAQ:LMAT opened at $81.45 on Wednesday. The company has a 50 day moving average of $96.54 and a 200-day moving average of $99.81. The company has a current ratio of 16.31, a quick ratio of 12.20 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.86 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.33 and a beta of 0.53. LeMaitre Vascular has a twelve month low of $78.65 and a twelve month high of $118.01.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.07). The company had revenue of $70.38 million for the quarter, compared to analyst estimates of $71.47 million. LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. LeMaitre Vascular’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, analysts anticipate that LeMaitre Vascular will post 2.89 earnings per share for the current fiscal year.

LeMaitre Vascular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 20th. LeMaitre Vascular’s payout ratio is presently 35.09%.

Institutional Investors Weigh In On LeMaitre Vascular

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in LeMaitre Vascular during the second quarter valued at about $314,075,000. Vanguard Group Inc. boosted its holdings in shares of LeMaitre Vascular by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,622,033 shares of the medical instruments supplier’s stock worth $131,547,000 after buying an additional 21,946 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of LeMaitre Vascular by 3.6% in the first quarter. Conestoga Capital Advisors LLC now owns 1,476,813 shares of the medical instruments supplier’s stock worth $161,224,000 after acquiring an additional 51,825 shares in the last quarter. First Trust Advisors LP increased its position in shares of LeMaitre Vascular by 6.2% in the first quarter. First Trust Advisors LP now owns 998,071 shares of the medical instruments supplier’s stock worth $108,959,000 after acquiring an additional 57,931 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of LeMaitre Vascular by 0.8% during the fourth quarter. State Street Corp now owns 806,993 shares of the medical instruments supplier’s stock valued at $65,447,000 after acquiring an additional 6,130 shares during the period. 84.64% of the stock is owned by hedge funds and other institutional investors.

LeMaitre Vascular News Roundup

Here are the key news stories impacting LeMaitre Vascular this week:

• Positive Sentiment: International sales growth and underlying demand were key positives in the second-quarter review. Revenue increased 9.6% year over year to $70.38 million, although growth was constrained by supply issues. LMAT Q2 Deep Dive: International Growth and Supply Constraints Shape Results
• Neutral Sentiment: LeMaitre will hold investor meetings at the Needham Virtual MedTech & Diagnostics 1×1 Conference on August 11. The event could provide management an opportunity to discuss international expansion, supply availability and its outlook, but no new financial guidance was announced. LeMaitre to Participate in the 11th Annual Needham Virtual MedTech & Diagnostics 1×1 Conference
• Neutral Sentiment: Wells Fargo maintained its Hold rating, signaling limited near-term conviction and a cautious outlook rather than a fresh bullish catalyst. Wells Fargo Sticks to Its Hold Rating for LeMaitre Vascular
• Negative Sentiment: Second-quarter adjusted earnings were $0.74 per share, below the $0.81 consensus estimate, while revenue of $70.38 million missed expectations of $71.47 million. The shortfall triggered a sharp decline and a gap lower in the shares. LeMaitre misses Q2 revenue estimates
• Negative Sentiment: Barrington Research downgraded LMAT to Market Perform, adding to concerns that the stock’s valuation and near-term growth prospects may be less attractive. Barrington Research Downgrades LeMaitre Vascular
• Negative Sentiment: The shares reached a new 12-month low following analyst caution and the earnings disappointment, reinforcing the negative market reaction. LeMaitre Vascular Hits New 12-Month Low

About LeMaitre Vascular

LeMaitre Vascular, Inc is a specialty medical device company focused on the development, manufacture and marketing of products for the treatment of peripheral vascular disease. Headquartered in Burlington, Massachusetts, the company’s offerings include a broad portfolio of vascular surgical instruments, grafts, patches, catheters and embolic protection devices. LeMaitre’s product lines address key areas such as arterial reconstruction, endovascular repair and vascular access, serving the needs of cardiovascular surgeons and interventional specialists.

Founded in 1983 by George D.