George W. Lemaitre Sells 11,300 Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) Stock
LeMaitre Vascular, Inc. (NASDAQ:LMAT) CEO George W. Lemaitre sold 11,300 shares of LeMaitre Vascular stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $32.79, for a total value of $370,527.00. Following the completion of the sale, the chief executive officer now directly owns 3,405,508 shares of the company’s stock, valued at $111,666,607.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) opened at 32.99 on Friday. LeMaitre Vascular, Inc. has a 52 week low of $16.80 and a 52 week high of $36.09. The company’s 50 day moving average price is $31.03 and its 200-day moving average price is $27.38. The firm has a market capitalization of $627.54 million, a PE ratio of 47.13 and a beta of 0.65.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $25.80 million during the quarter, compared to the consensus estimate of $25.42 million. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. On average, equities research analysts expect that LeMaitre Vascular, Inc. will post $0.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.055 per share. The ex-dividend date is Monday, August 21st. This represents a $0.22 dividend on an annualized basis and a yield of 0.67%. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 31.88%.
LeMaitre Vascular declared that its board has initiated a share repurchase plan on Thursday, July 27th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the medical instruments supplier to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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LMAT has been the subject of several research reports. Zacks Investment Research raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Friday, April 28th. Stifel Nicolaus lifted their target price on LeMaitre Vascular from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Canaccord Genuity reissued a “buy” rating and issued a $28.00 target price on shares of LeMaitre Vascular in a research note on Thursday, April 27th. Benchmark Co. raised LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub cut LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $30.17.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in LeMaitre Vascular by 12.7% in the fourth quarter. State Street Corp now owns 329,877 shares of the medical instruments supplier’s stock worth $8,358,000 after buying an additional 37,142 shares during the period. Bank of Montreal Can increased its position in LeMaitre Vascular by 32.2% in the first quarter. Bank of Montreal Can now owns 10,483 shares of the medical instruments supplier’s stock worth $258,000 after buying an additional 2,552 shares during the period. Conestoga Capital Advisors LLC bought a new position in LeMaitre Vascular during the first quarter worth about $9,549,000. Perkins Capital Management Inc. bought a new position in LeMaitre Vascular during the first quarter worth about $2,677,000. Finally, Thomson Horstmann & Bryant Inc. increased its position in LeMaitre Vascular by 111.3% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 359,339 shares of the medical instruments supplier’s stock worth $8,850,000 after buying an additional 189,280 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.
About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged 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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