Summit Global Investments Buys Shares of 18,000 LeMaitre Vascular, Inc. (LMAT)
Summit Global Investments bought a new position in LeMaitre Vascular, Inc. (NASDAQ:LMAT) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 18,000 shares of the medical instruments supplier’s stock, valued at approximately $562,000. Summit Global Investments owned about 0.10% of LeMaitre Vascular at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. acquired a new stake in shares of LeMaitre Vascular in the 2nd quarter worth about $331,000. JPMorgan Chase & Co. increased its stake in LeMaitre Vascular by 175.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 55,979 shares of the medical instruments supplier’s stock valued at $1,748,000 after buying an additional 35,656 shares during the last quarter. State of Tennessee Treasury Department purchased a new stake in LeMaitre Vascular in the 2nd quarter valued at about $366,000. Oppenheimer Asset Management Inc. increased its stake in LeMaitre Vascular by 4,751.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,355 shares of the medical instruments supplier’s stock valued at $198,000 after buying an additional 6,224 shares during the last quarter. Finally, Swiss National Bank purchased a new stake in LeMaitre Vascular in the 2nd quarter valued at about $777,000. Institutional investors own 66.32% of the company’s stock.
LMAT has been the subject of several analyst reports. Zacks Investment Research upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, August 1st. Benchmark Co. lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. They noted that the move was a valuation call. BidaskClub lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Canaccord Genuity lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research note on Monday, July 10th. Finally, Craig Hallum initiated coverage on shares of LeMaitre Vascular in a research note on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. LeMaitre Vascular presently has an average rating of “Hold” and a consensus price target of $30.17.
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In other news, Director Lawrence J. Jasinski sold 2,030 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $34.23, for a total transaction of $69,486.90. Following the completion of the transaction, the director now directly owns 8,333 shares of the company’s stock, valued at $285,238.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter R. Gebauer sold 22,067 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $34.28, for a total transaction of $756,456.76. Following the transaction, the insider now directly owns 4,486 shares of the company’s stock, valued at $153,780.08. The disclosure for this sale can be found here. Insiders have sold 373,121 shares of company stock valued at $12,825,992 over the last three months. 23.70% of the stock is owned by corporate insiders.
Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) traded up 0.3569% during midday trading on Tuesday, hitting $38.1858. 4,774 shares of the stock traded hands. LeMaitre Vascular, Inc. has a 52 week low of $18.55 and a 52 week high of $38.48. The firm has a market capitalization of $726.37 million, a PE ratio of 54.5511 and a beta of 0.67. The company’s 50-day moving average is $34.15 and its 200 day moving average is $29.19.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The firm had revenue of $25.80 million during the quarter, compared to analysts’ expectations of $25.42 million. During the same period in the previous year, the company earned $0.14 earnings per share. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Analysts anticipate that LeMaitre Vascular, Inc. will post $0.80 earnings per share for the current year.
LeMaitre Vascular announced that its Board of Directors has approved a share buyback plan on Thursday, July 27th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the medical instruments supplier to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.22 annualized dividend and a dividend yield of 0.58%. LeMaitre Vascular’s payout ratio is 31.88%.
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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