LeMaitre Vascular, Inc. (NASDAQ:LMAT) Chairman George W. Lemaitre Sells 21,300 Shares
LeMaitre Vascular, Inc. (NASDAQ:LMAT) Chairman George W. Lemaitre sold 21,300 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $32.90, for a total transaction of $700,770.00. Following the completion of the transaction, the chairman now owns 3,405,508 shares in the company, valued at approximately $112,041,213.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of LeMaitre Vascular, Inc. (NASDAQ LMAT) traded up 0.73% on Friday, hitting $32.99. 220,949 shares of the stock traded hands. The firm has a market capitalization of $627.54 million, a PE ratio of 47.13 and a beta of 0.65. LeMaitre Vascular, Inc. has a 52 week low of $16.80 and a 52 week high of $36.09. The firm’s 50 day moving average is $30.93 and its 200 day moving average is $27.31.
LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The company had revenue of $25.80 million for the quarter, compared to the consensus estimate of $25.42 million. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. On average, analysts expect that LeMaitre Vascular, Inc. will post $0.80 EPS for the current fiscal year.
LeMaitre Vascular announced that its board has initiated a share buyback plan on Thursday, July 27th that allows the company to repurchase $7.50 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be issued a $0.055 dividend. The ex-dividend date is Monday, August 21st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.67%. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 31.88%.
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LMAT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Friday, April 28th. Stifel Nicolaus restated a “buy” rating and set a $32.00 price target (up previously from $29.00) on shares of LeMaitre Vascular in a research note on Sunday, July 30th. Benchmark Co. upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Canaccord Genuity restated a “buy” rating and set a $28.00 price target on shares of LeMaitre Vascular in a research note on Thursday, April 27th. Finally, BidaskClub lowered shares of LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. LeMaitre Vascular has a consensus rating of “Buy” and an average target price of $30.17.
Several hedge funds have recently bought and sold shares of LMAT. Conestoga Capital Advisors LLC acquired a new stake in LeMaitre Vascular during the first quarter worth about $9,549,000. Summit Creek Advisors LLC purchased a new position in shares of LeMaitre Vascular during the first quarter worth $5,311,000. Columbia Wanger Asset Management LLC increased its position in shares of LeMaitre Vascular by 21.0% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,093,903 shares of the medical instruments supplier’s stock worth $26,943,000 after buying an additional 189,608 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased 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 worth $8,850,000 after buying an additional 189,280 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of LeMaitre Vascular by 23.5% in the second quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock worth $25,462,000 after buying an additional 155,249 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.
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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