LeMaitre Vascular (NASDAQ:LMAT) Issues FY24 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.73-1.84 for the period, compared to the consensus earnings per share estimate of $1.65. The company issued revenue guidance of $212.7-217.3 million, compared to the consensus revenue estimate of $211.69 million. LeMaitre Vascular also updated its Q2 guidance to $0.45-0.50 EPS.

LeMaitre Vascular Trading Up 11.2 %

LMAT traded up $7.45 during mid-day trading on Friday, hitting $74.22. 329,984 shares of the stock were exchanged, compared to its average volume of 110,751. The firm’s fifty day moving average is $65.93 and its two-hundred day moving average is $58.85. LeMaitre Vascular has a 1-year low of $44.27 and a 1-year high of $74.64. The company has a market cap of $1.67 billion, a PE ratio of 49.15, a PEG ratio of 3.20 and a beta of 0.88.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.75%. The business had revenue of $53.48 million during the quarter, compared to analyst estimates of $51.50 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that LeMaitre Vascular will post 1.77 earnings per share for the current year.

LeMaitre Vascular Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Wednesday, May 15th. LeMaitre Vascular’s payout ratio is currently 42.38%.

Analyst Ratings Changes

Several research analysts recently commented on LMAT shares. Barrington Research boosted their target price on LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a research note on Friday. KeyCorp began coverage on LeMaitre Vascular in a research report on Tuesday, February 6th. They set a sector weight rating for the company. Stifel Nicolaus raised shares of LeMaitre Vascular from a hold rating to a buy rating and raised their target price for the company from $59.00 to $75.00 in a report on Friday, April 26th. StockNews.com upgraded shares of LeMaitre Vascular from a hold rating to a buy rating in a report on Friday. Finally, JMP Securities raised their price objective on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $73.83.

Insider Buying and Selling at LeMaitre Vascular

In other news, CEO George W. Lemaitre sold 27,859 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $69.73, for a total transaction of $1,942,608.07. Following the completion of the sale, the chief executive officer now owns 2,255,737 shares in the company, valued at approximately $157,292,541.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other LeMaitre Vascular news, Director Lawrence J. Jasinski sold 5,110 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total value of $344,925.00. Following the completion of the sale, the director now owns 5,309 shares in the company, valued at $358,357.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO George W. Lemaitre sold 27,859 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $69.73, for a total value of $1,942,608.07. Following the completion of the sale, the chief executive officer now directly owns 2,255,737 shares of the company’s stock, valued at $157,292,541.01. The disclosure for this sale can be found here. Insiders have sold 114,036 shares of company stock worth $7,873,749 over the last three months. Insiders own 10.79% of the company’s stock.

About LeMaitre Vascular

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.