LeMaitre Vascular (NASDAQ:LMAT) Updates Q3 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.420-0.460 for the period, compared to the consensus earnings per share estimate of 0.420. The company issued revenue guidance of $52.7 million-$54.7 million, compared to the consensus revenue estimate of $52.4 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.820-1.910 EPS.

LeMaitre Vascular Trading Down 1.4 %

LMAT traded down $1.24 during trading on Friday, hitting $85.01. 348,354 shares of the company’s stock traded hands, compared to its average volume of 157,693. The company’s 50 day simple moving average is $82.69 and its two-hundred day simple moving average is $71.79. LeMaitre Vascular has a 12-month low of $44.27 and a 12-month high of $91.76. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 2.63 and a beta of 0.89.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. LeMaitre Vascular had a return on equity of 12.63% and a net margin of 18.33%. The business had revenue of $55.85 million for the quarter, compared to the consensus estimate of $54.98 million. During the same period last year, the business posted $0.37 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.64 annualized dividend and a dividend yield of 0.75%. LeMaitre Vascular’s payout ratio is 42.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Roth Capital raised LeMaitre Vascular to a strong-buy rating in a report on Friday, May 31st. Roth Mkm reissued a buy rating and set a $100.00 price target on shares of LeMaitre Vascular in a report on Friday, May 31st. Stifel Nicolaus raised LeMaitre Vascular from a hold rating to a buy rating and increased their price target for the company from $59.00 to $75.00 in a report on Friday, April 26th. Barrington Research increased their price target on LeMaitre Vascular from $79.00 to $92.00 and gave the company an outperform rating in a report on Friday. Finally, StockNews.com cut LeMaitre Vascular from a buy rating to a hold rating in a report on Friday. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $86.50.

Insiders Place Their Bets

In other LeMaitre Vascular news, Director Bridget A. Ross sold 5,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $77.99, for a total value of $428,945.00. Following the completion of the sale, the director now owns 2,278 shares in the company, valued at approximately $177,661.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO George W. Lemaitre sold 27,030 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $86.27, for a total transaction of $2,331,878.10. Following the completion of the transaction, the chief executive officer now owns 1,958,328 shares in the company, valued at $168,944,956.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bridget A. Ross sold 5,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $77.99, for a total value of $428,945.00. Following the transaction, the director now owns 2,278 shares of the company’s stock, valued at approximately $177,661.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,437 shares of company stock worth $10,076,242. Corporate insiders own 10.79% 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.