LeMaitre Vascular Inc. (LMAT) Stock Rating Upgraded by Zacks Investment Research
LeMaitre Vascular Inc. (NASDAQ:LMAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $27.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 9.71% from the company’s previous close.
According to Zacks, “LEMAITRE VASCULAR, INC. is a leading global provider of innovative devices for the treatment of peripheral vascular disease. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre’s diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time. “
A number of other research firms also recently commented on LMAT. Canaccord Genuity restated a “buy” rating and set a $25.00 price objective on shares of LeMaitre Vascular in a report on Friday, November 11th. Sidoti cut shares of LeMaitre Vascular from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Thursday, September 22nd. Brean Capital upped their price target on shares of LeMaitre Vascular from $17.50 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Barrington Research upped their price target on shares of LeMaitre Vascular from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $20.83.
Shares of LeMaitre Vascular (NASDAQ:LMAT) opened at 24.61 on Wednesday. The firm has a market cap of $457.33 million, a PE ratio of 44.83 and a beta of 0.58. The stock’s 50 day moving average price is $19.97 and its 200-day moving average price is $17.13. LeMaitre Vascular has a 52-week low of $12.03 and a 52-week high of $22.50.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business earned $19 million during the quarter, compared to the consensus estimate of $22.20 million. LeMaitre Vascular had a return on equity of 12.83% and a net margin of 12.19%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, equities research analysts anticipate that LeMaitre Vascular will post $0.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Monday, November 21st will be given a $0.045 dividend. The ex-dividend date is Thursday, November 17th. This represents a $0.18 dividend on an annualized basis and a yield of 0.73%. LeMaitre Vascular’s payout ratio is currently 32.73%.
In other news, insider David B. Roberts sold 10,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $17.35, for a total transaction of $173,500.00. Following the transaction, the insider now owns 134,793 shares of the company’s stock, valued at $2,338,658.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter R. Gebauer sold 3,431 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $18.20, for a total transaction of $62,444.20. Following the transaction, the insider now directly owns 31,283 shares in the company, valued at approximately $569,350.60. The disclosure for this sale can be found here. 28.90% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of LMAT. JFS Wealth Advisors LLC bought a new position in shares of LeMaitre Vascular during the third quarter valued at approximately $109,000. American International Group Inc. boosted its position in shares of LeMaitre Vascular by 11.7% in the second quarter. American International Group Inc. now owns 7,775 shares of the company’s stock valued at $111,000 after buying an additional 817 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of LeMaitre Vascular by 6.7% in the second quarter. Nationwide Fund Advisors now owns 9,293 shares of the company’s stock valued at $133,000 after buying an additional 580 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of LeMaitre Vascular by 19.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,330 shares of the company’s stock valued at $162,000 after buying an additional 1,826 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of LeMaitre Vascular during the third quarter valued at approximately $197,000. 60.90% of the stock is currently owned by institutional investors and hedge funds.
About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company and its subsidiaries develop, manufacture and market medical devices and implants used primarily in the field of vascular surgery. It operates in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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