LeMaitre Vascular (NASDAQ:LMAT) Updates 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 guidance of $0.45-0.50 for the period, compared to the consensus earnings per share 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.

LeMaitre Vascular Price Performance

LMAT traded up $7.45 during midday trading on Friday, reaching $74.22. 329,984 shares of the company’s stock were exchanged, compared to its average volume of 110,751. The stock has a market capitalization of $1.67 billion, a PE ratio of 49.15, a P/E/G ratio of 3.20 and a beta of 0.88. The business’s 50-day moving average price is $65.93 and its 200 day moving average price is $58.85. LeMaitre Vascular has a 1-year low of $44.27 and a 1-year high of $74.64.

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

LeMaitre Vascular Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of LeMaitre Vascular from a hold rating to a buy rating in a research report on Friday. Stifel Nicolaus raised shares of LeMaitre Vascular from a hold rating to a buy rating and boosted their price objective for the company from $59.00 to $75.00 in a research report on Friday, April 26th. JMP Securities boosted 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. Barrington Research boosted their price objective on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the company an outperform rating in a research report on Friday. Finally, KeyCorp assumed coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They issued a sector weight rating for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, LeMaitre Vascular presently has a consensus rating of Moderate Buy and a consensus price target of $73.83.

Insiders Place Their Bets

In related news, CEO George W. Lemaitre sold 36,600 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $68.03, for a total value of $2,489,898.00. Following the transaction, the chief executive officer now owns 2,187,526 shares in the company, valued at $148,817,393.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other LeMaitre Vascular news, CEO George W. Lemaitre sold 36,600 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $68.03, for a total transaction of $2,489,898.00. Following the transaction, the chief executive officer now owns 2,187,526 shares in the company, valued at $148,817,393.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lawrence J. Jasinski sold 5,110 shares of the company’s stock in a transaction dated 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 directly owns 5,309 shares of the company’s stock, valued at approximately $358,357.50. The disclosure for this sale can be found here. Insiders sold 114,036 shares of company stock worth $7,873,749 over the last three months. 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.