LeMaitre Vascular (NASDAQ:LMAT) Updates Q3 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.42 to $0.46 for the period, compared to the consensus earnings per share estimate of $0.42. The company issued revenue guidance of $52.7 million to $54.7 million, compared to the consensus revenue estimate of $52.33 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.820-1.910 EPS.

LeMaitre Vascular Price Performance

Shares of LeMaitre Vascular stock traded down $1.24 during trading on Friday, reaching $85.01. 348,354 shares of the stock traded hands, compared to its average volume of 157,693. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 56.30, a P/E/G ratio of 2.63 and a beta of 0.89. The business has a fifty day simple moving average of $82.69 and a two-hundred day simple moving average of $71.79. LeMaitre Vascular has a 52-week low of $44.27 and a 52-week high of $91.76.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $55.85 million during the quarter, compared to analyst estimates of $54.98 million. LeMaitre Vascular had a return on equity of 12.63% and a net margin of 18.33%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. On average, research analysts predict that LeMaitre Vascular will post 1.77 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

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

Analysts Set New Price Targets

LMAT has been the subject of several recent research reports. Roth Mkm reiterated a buy rating and issued a $100.00 price target on shares of LeMaitre Vascular in a research report on Friday, May 31st. Roth Capital upgraded LeMaitre Vascular to a strong-buy rating in a research report on Friday, May 31st. Barrington Research lifted their price target on LeMaitre Vascular from $79.00 to $92.00 and gave the stock an outperform rating in a research report on Friday. Lake Street Capital assumed coverage on LeMaitre Vascular in a research report on Friday. They issued a buy rating and a $105.00 price target for the company. Finally, JMP Securities raised their price objective on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the stock a market outperform rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $86.50.

Insiders Place Their Bets

In other news, Director David B. Roberts sold 5,025 shares of LeMaitre Vascular stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.62, for a total transaction of $379,990.50. Following the completion of the sale, the director now owns 14,114 shares of the company’s stock, valued at $1,067,300.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO George W. Lemaitre sold 68,906 shares of LeMaitre Vascular stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.70, for a total transaction of $5,216,184.20. Following the completion of the sale, the chief executive officer now owns 2,133,428 shares of the company’s stock, valued at $161,500,499.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Roberts sold 5,025 shares of LeMaitre Vascular stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.62, for a total transaction of $379,990.50. Following the sale, the director now directly owns 14,114 shares of the company’s stock, valued at approximately $1,067,300.68. The disclosure for this sale can be found here. Insiders sold a total of 127,437 shares of company stock valued at $10,076,242 over the last 90 days. 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.