LeMaitre Vascular (NASDAQ:LMAT) Shares Gap Down – Here’s Why

LeMaitre Vascular, Inc. (NASDAQ:LMAT) shares gapped down prior to trading on Monday . The stock had previously closed at $100.69, but opened at $91.12. LeMaitre Vascular shares last traded at $92.96, with a volume of 68,968 shares trading hands.

Analysts Set New Price Targets

LMAT has been the topic of several research analyst reports. Barrington Research upped their price objective on LeMaitre Vascular from $92.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Oppenheimer reissued an “outperform” rating and issued a $93.00 price target (up from $90.00) on shares of LeMaitre Vascular in a research note on Friday, November 1st. JMP Securities boosted their price target on LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a report on Tuesday, August 20th. StockNews.com lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald assumed coverage on shares of LeMaitre Vascular in a report on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.57.

LeMaitre Vascular Stock Down 1.3 %

The stock has a 50-day moving average of $97.71 and a 200 day moving average of $89.80. The stock has a market cap of $2.04 billion, a PE ratio of 49.69, a price-to-earnings-growth ratio of 2.47 and a beta of 0.93.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. The company had revenue of $54.82 million during the quarter, compared to analysts’ expectations of $53.50 million. During the same period last year, the business earned $0.33 earnings per share. LeMaitre Vascular’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities analysts anticipate that LeMaitre Vascular, Inc. will post 1.94 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.70%. LeMaitre Vascular’s dividend payout ratio (DPR) is 34.97%.

Insiders Place Their Bets

In related news, Director Bridget A. Ross sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $101.47, for a total transaction of $380,512.50. Following the sale, the director now directly owns 2,278 shares of the company’s stock, valued at $231,148.66. This represents a 62.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.79% of the stock is currently owned by corporate insiders.

Institutional Trading of LeMaitre Vascular

Several institutional investors have recently modified their holdings of LMAT. NBC Securities Inc. lifted its stake in shares of LeMaitre Vascular by 73.2% in the third quarter. NBC Securities Inc. now owns 433 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 183 shares during the period. West Oak Capital LLC acquired a new position in LeMaitre Vascular during the second quarter worth about $58,000. USA Financial Formulas acquired a new stake in shares of LeMaitre Vascular in the third quarter valued at approximately $60,000. nVerses Capital LLC increased its stake in shares of LeMaitre Vascular by 33.3% during the 2nd quarter. nVerses Capital LLC now owns 800 shares of the medical instruments supplier’s stock worth $66,000 after purchasing an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in LeMaitre Vascular by 34.3% in the 3rd quarter. GAMMA Investing LLC now owns 736 shares of the medical instruments supplier’s stock valued at $68,000 after buying an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 84.64% 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.