LeMaitre Vascular (NASDAQ:LMAT) PT Raised to $77.00

LeMaitre Vascular (NASDAQ:LMAT) had its target price raised by research analysts at JMP Securities from $72.00 to $77.00 in a report issued on Friday, Benzinga reports. The firm presently has a “market outperform” rating on the medical instruments supplier’s stock. JMP Securities’ target price would indicate a potential upside of 3.75% from the company’s current price.

Other analysts have also recently issued reports about the company. Barrington Research upped their price target on LeMaitre Vascular from $69.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and upped their target price for the stock from $59.00 to $75.00 in a report on Friday, April 26th. KeyCorp began coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They set a “sector weight” rating for the company. Finally, StockNews.com lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.83.

LeMaitre Vascular Stock Performance

Shares of NASDAQ: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 company’s 50 day simple moving average is $65.93 and its two-hundred day simple moving average is $58.78. LeMaitre Vascular has a 12 month low of $44.27 and a 12 month high of $74.64. The firm has a market capitalization of $1.67 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 3.20 and a beta of 0.88.

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

Insider Buying and Selling at LeMaitre Vascular

In other news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the transaction, the chief financial officer now directly owns 6,452 shares in the company, valued at $450,091.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO George W. Lemaitre sold 36,600 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $148,817,393.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the sale, the chief financial officer now owns 6,452 shares of the company’s stock, valued at approximately $450,091.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,036 shares of company stock worth $7,873,749. 10.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LeMaitre Vascular

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its stake in shares of LeMaitre Vascular by 24.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 195,983 shares of the medical instruments supplier’s stock valued at $10,677,000 after purchasing an additional 38,958 shares during the period. Vanguard Group Inc. lifted its stake in LeMaitre Vascular by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,510,567 shares of the medical instruments supplier’s stock valued at $82,296,000 after buying an additional 33,500 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in LeMaitre Vascular by 0.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,927,971 shares of the medical instruments supplier’s stock worth $109,432,000 after buying an additional 10,390 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in LeMaitre Vascular by 52.6% during the third quarter. Johnson Investment Counsel Inc. now owns 32,745 shares of the medical instruments supplier’s stock worth $1,784,000 after buying an additional 11,280 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its position in shares of LeMaitre Vascular by 152.9% during the 3rd quarter. Dark Forest Capital Management LP now owns 13,857 shares of the medical instruments supplier’s stock worth $755,000 after buying an additional 8,378 shares during the period. 84.64% of the stock is owned by institutional investors.

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.