Zacks Investment Research Downgrades LeMaitre Vascular (LMAT) to Sell
LeMaitre Vascular (NASDAQ:LMAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “LeMaitre Vascular, Inc. is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects the people worldwide. 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. “
LMAT has been the subject of several other research reports. Barrington Research raised LeMaitre Vascular from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Monday, October 8th. ValuEngine lowered LeMaitre Vascular from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. Canaccord Genuity lowered their price target on LeMaitre Vascular from $40.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, October 8th. Lake Street Capital lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, BidaskClub raised LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Friday, November 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $35.86.
LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings results on Friday, October 5th. The medical instruments supplier reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $24.17 million during the quarter, compared to analyst estimates of $26.06 million. LeMaitre Vascular had a return on equity of 18.07% and a net margin of 20.52%. As a group, research analysts expect that LeMaitre Vascular will post 1.02 earnings per share for the current year.
In other LeMaitre Vascular news, Director Michael H. Thomas sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $27.93, for a total value of $558,600.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $558,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.30% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in LeMaitre Vascular by 4.9% in the 3rd quarter. BlackRock Inc. now owns 2,545,148 shares of the medical instruments supplier’s stock worth $98,599,000 after buying an additional 119,694 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in LeMaitre Vascular by 15.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,607,000 shares of the medical instruments supplier’s stock worth $62,255,000 after buying an additional 214,409 shares during the last quarter. Vanguard Group Inc. raised its position in LeMaitre Vascular by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,208,742 shares of the medical instruments supplier’s stock worth $46,826,000 after buying an additional 66,427 shares during the last quarter. Dimensional Fund Advisors LP raised its position in LeMaitre Vascular by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,020,116 shares of the medical instruments supplier’s stock worth $39,519,000 after buying an additional 14,038 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its position in LeMaitre Vascular by 20.8% in the 2nd quarter. Epoch Investment Partners Inc. now owns 932,093 shares of the medical instruments supplier’s stock worth $31,207,000 after buying an additional 160,754 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.
LeMaitre Vascular Company Profile
LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.
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