LeMaitre Vascular, Inc. (LMAT) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) from a buy rating to a hold rating in a research note issued to investors on Friday.
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. “
A number of other brokerages have also issued reports on LMAT. Canaccord Genuity reissued a hold rating and issued a $30.00 price target on shares of LeMaitre Vascular in a report on Monday, October 9th. Benchmark Co. lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a report on Friday, October 27th. First Analysis lowered shares of LeMaitre Vascular from an overweight rating to an equal weight rating and set a $34.00 price target on the stock. in a report on Friday, October 27th. BidaskClub lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a report on Wednesday, August 23rd. Finally, Stifel Nicolaus reissued a buy rating and issued a $32.00 price target (up previously from $29.00) on shares of LeMaitre Vascular in a report on Sunday, July 30th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $32.20.
LeMaitre Vascular (NASDAQ:LMAT) traded up $0.11 during mid-day trading on Friday, hitting $33.50. 172,000 shares of the company traded hands, compared to its average volume of 272,062. LeMaitre Vascular has a 52 week low of $19.82 and a 52 week high of $39.88. The company has a market cap of $645.38, a price-to-earnings ratio of 43.51, a P/E/G ratio of 2.66 and a beta of 0.55.
LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Thursday, October 26th. The medical instruments supplier reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $24.80 million for the quarter, compared to analyst estimates of $25.49 million. LeMaitre Vascular had a net margin of 15.81% and a return on equity of 16.16%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. analysts anticipate that LeMaitre Vascular will post 0.84 EPS for the current year.
LeMaitre Vascular announced that its board has approved a stock buyback program on Thursday, July 27th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, November 21st. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 28.57%.
In other news, Director Lawrence J. Jasinski sold 2,030 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $34.23, for a total value of $69,486.90. Following the completion of the sale, the director now directly owns 8,333 shares of the company’s stock, valued at approximately $285,238.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David B. Roberts sold 4,123 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $32.14, for a total transaction of $132,513.22. Following the completion of the sale, the insider now directly owns 24,482 shares of the company’s stock, valued at $786,851.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,836 shares of company stock valued at $5,415,816. Corporate insiders own 23.70% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of LeMaitre Vascular by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 968,232 shares of the medical instruments supplier’s stock worth $30,228,000 after purchasing an additional 40,767 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of LeMaitre Vascular by 51.2% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 854,644 shares of the medical instruments supplier’s stock worth $31,981,000 after purchasing an additional 289,575 shares during the period. Vanguard Group Inc. lifted its position in shares of LeMaitre Vascular by 23.5% in the 2nd quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock worth $25,462,000 after purchasing an additional 155,249 shares during the period. State Street Corp lifted its position in shares of LeMaitre Vascular by 25.2% in the 2nd quarter. State Street Corp now owns 382,824 shares of the medical instruments supplier’s stock worth $11,951,000 after purchasing an additional 77,009 shares during the period. Finally, Thomson Horstmann & Bryant Inc. lifted its position in shares of LeMaitre Vascular by 1.8% in the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 365,977 shares of the medical instruments supplier’s stock worth $11,425,000 after purchasing an additional 6,638 shares during the period. 68.37% of the stock is owned by hedge funds and other institutional investors.
LeMaitre Vascular Company Profile
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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