LeMaitre Vascular (NASDAQ:LMAT) Releases Q2 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.45-0.50 for the period, compared to the consensus estimate of $0.44. The company issued revenue guidance of $53.7-56.1 million, compared to the consensus revenue estimate of $54.29 million. LeMaitre Vascular also updated its FY24 guidance to $1.73-1.84 EPS.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barrington Research upped their target price on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the company an outperform rating in a research note on Friday. StockNews.com upgraded shares of LeMaitre Vascular from a hold rating to a buy rating in a research note on Friday. KeyCorp assumed coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They set a sector weight rating on the stock. JMP Securities lifted their price objective on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a research report on Friday. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, LeMaitre Vascular currently has an average rating of Moderate Buy and a consensus price target of $73.83.

LeMaitre Vascular Price Performance

NASDAQ LMAT traded up $7.45 during mid-day trading on Friday, hitting $74.22. The stock had a trading volume of 329,984 shares, compared to its average volume of 110,751. The firm’s 50 day moving average is $65.93 and its 200 day moving average is $58.85. LeMaitre Vascular has a twelve month low of $44.27 and a twelve month high of $74.64. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 3.20 and a beta of 0.88.

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

LeMaitre Vascular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, May 15th. LeMaitre Vascular’s dividend payout ratio (DPR) is 42.38%.

Insider Buying and Selling

In other news, Director John A. Roush sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $69.00, for a total value of $517,500.00. Following the completion of the sale, the director now directly owns 2,278 shares of the company’s stock, valued at $157,182. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the transaction, the director now directly owns 2,278 shares in the company, valued at $157,182. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence J. Jasinski sold 5,110 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 114,036 shares of company stock worth $7,873,749 in the last quarter. 10.79% of the stock is owned by insiders.

LeMaitre Vascular Company Profile

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.