LeMaitre Vascular (NASDAQ:LMAT) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a buy rating in a research note released on Friday.

Several other equities research analysts have also recently commented on the stock. Stifel Nicolaus upgraded shares of LeMaitre Vascular from a hold rating to a buy rating and lifted their price target for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. 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 report on Friday. JMP Securities raised their price target on LeMaitre Vascular from $72.00 to $77.00 and gave the stock a market outperform rating in a research report on Friday. Finally, KeyCorp initiated coverage on LeMaitre Vascular in a report on Tuesday, February 6th. They issued a sector weight rating for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LeMaitre Vascular currently has an average rating of Moderate Buy and an average price target of $73.83.

LeMaitre Vascular Stock Performance

NASDAQ:LMAT opened at $74.22 on Friday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 49.15, a P/E/G ratio of 2.99 and a beta of 0.88. The stock’s fifty day moving average price is $65.93 and its two-hundred day moving average price is $58.85. LeMaitre Vascular has a 52-week low of $44.27 and a 52-week high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The business had revenue of $53.48 million for the quarter, compared to analyst estimates of $51.50 million. LeMaitre Vascular had a return on equity of 11.57% and a net margin of 16.99%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, equities analysts predict that LeMaitre Vascular will post 1.77 EPS for the current fiscal year.

LeMaitre Vascular Announces Dividend

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

Insider Buying and Selling at LeMaitre Vascular

In related news, CEO George W. Lemaitre sold 27,859 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $69.73, for a total value of $1,942,608.07. Following the completion of the transaction, the chief executive officer now directly owns 2,255,737 shares of the company’s stock, valued at approximately $157,292,541.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of LeMaitre Vascular stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total value of $517,500.00. Following the sale, the director now directly owns 2,278 shares in the company, valued at approximately $157,182. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George W. Lemaitre sold 27,859 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $69.73, for a total value of $1,942,608.07. Following the completion of the transaction, the chief executive officer now owns 2,255,737 shares of the company’s stock, valued at approximately $157,292,541.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,036 shares of company stock valued at $7,873,749. 10.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LMAT. SG Americas Securities LLC bought a new position in shares of LeMaitre Vascular in the third quarter valued at $884,000. Raymond James & Associates raised its holdings in shares of LeMaitre Vascular by 4.1% in the 3rd quarter. Raymond James & Associates now owns 24,827 shares of the medical instruments supplier’s stock valued at $1,353,000 after purchasing an additional 967 shares during the period. BluePath Capital Management LLC acquired a new stake in LeMaitre Vascular in the 3rd quarter valued at about $31,000. Allspring Global Investments Holdings LLC grew its holdings in LeMaitre Vascular by 94.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,320 shares of the medical instruments supplier’s stock worth $998,000 after purchasing an additional 8,920 shares during the period. Finally, Conestoga Capital Advisors LLC increased its position in LeMaitre Vascular by 3.0% during the third quarter. Conestoga Capital Advisors LLC now owns 1,917,581 shares of the medical instruments supplier’s stock worth $104,470,000 after buying an additional 55,895 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.

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.