LeMaitre Vascular, Inc. (LMAT) CEO George W. Lemaitre Sells 10,000 Shares
LeMaitre Vascular, Inc. (NASDAQ:LMAT) CEO George W. Lemaitre sold 10,000 shares of LeMaitre Vascular stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.62, for a total value of $336,200.00. Following the sale, the chief executive officer now owns 3,436,808 shares of the company’s stock, valued at approximately $115,545,484.96. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of LeMaitre Vascular, Inc. (LMAT) traded down 1.47% during mid-day trading on Wednesday, hitting $33.56. The stock had a trading volume of 143,476 shares. The firm has a market cap of $631.43 million, a price-to-earnings ratio of 47.94 and a beta of 0.65. LeMaitre Vascular, Inc. has a one year low of $16.80 and a one year high of $36.09. The company has a 50-day moving average of $30.31 and a 200 day moving average of $27.02.
LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. The firm had revenue of $25.80 million during the quarter, compared to the consensus estimate of $25.42 million. During the same period in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities research analysts forecast that LeMaitre Vascular, Inc. will post $0.80 earnings per share for the current year.
LeMaitre Vascular declared that its Board of Directors has authorized a stock repurchase program 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 23rd will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, August 21st. LeMaitre Vascular’s payout ratio is currently 31.88%.
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of LeMaitre Vascular by 12.7% in the fourth quarter. State Street Corp now owns 329,877 shares of the medical instruments supplier’s stock valued at $8,358,000 after buying an additional 37,142 shares during the last quarter. Bank of Montreal Can raised its position in shares of LeMaitre Vascular by 32.2% in the first quarter. Bank of Montreal Can now owns 10,483 shares of the medical instruments supplier’s stock valued at $258,000 after buying an additional 2,552 shares during the last quarter. Conestoga Capital Advisors LLC purchased a new position in shares of LeMaitre Vascular during the first quarter valued at $9,549,000. Perkins Capital Management Inc. purchased a new position in shares of LeMaitre Vascular during the first quarter valued at $2,677,000. Finally, Thomson Horstmann & Bryant Inc. raised its position in shares of LeMaitre Vascular by 111.3% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 359,339 shares of the medical instruments supplier’s stock valued at $8,850,000 after buying an additional 189,280 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price objective (up previously from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Benchmark Co. cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. Canaccord Genuity cut LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Monday, July 10th. Finally, Craig Hallum began coverage on LeMaitre Vascular in a report on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $30.17.
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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