LeMaitre Vascular Inc (LMAT) Declares $0.07 Quarterly Dividend
LeMaitre Vascular Inc (NASDAQ:LMAT) announced a quarterly dividend on Friday, July 27th, Wall Street Journal reports. Investors of record on Wednesday, August 22nd will be paid a dividend of 0.07 per share by the medical instruments supplier on Thursday, September 6th. This represents a $0.28 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, August 21st.
LeMaitre Vascular has increased its dividend by an average of 16.3% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. LeMaitre Vascular has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LeMaitre Vascular to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 28.0%.
Shares of LMAT stock opened at $37.09 on Monday. LeMaitre Vascular has a 12-month low of $28.23 and a 12-month high of $41.28. The company has a market capitalization of $706.45 million, a P/E ratio of 43.13, a P/E/G ratio of 2.28 and a beta of 0.59.
In other LeMaitre Vascular news, Director David B. Roberts sold 21,005 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $35.72, for a total value of $750,298.60. Following the transaction, the director now directly owns 5,373 shares in the company, valued at $191,923.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George W. Lemaitre sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $33.05, for a total transaction of $991,500.00. Following the completion of the transaction, the chief executive officer now owns 3,157,009 shares in the company, valued at $104,339,147.45. The disclosure for this sale can be found here. Insiders sold 189,379 shares of company stock worth $6,726,178 over the last quarter. Insiders own 20.30% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Canaccord Genuity raised their target price on shares of LeMaitre Vascular from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, July 9th. BidaskClub cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. ValuEngine cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Zacks Investment Research cut shares of LeMaitre Vascular from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $34.00 in a report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. LeMaitre Vascular has an average rating of “Hold” and an average target price of $38.00.
About LeMaitre Vascular
LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.
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