LeMaitre Vascular, Inc. (LMAT) Receives “Hold” Rating from Canaccord Genuity
LeMaitre Vascular, Inc. (NASDAQ:LMAT)‘s stock had its “hold” rating reaffirmed by equities research analysts at Canaccord Genuity in a research report issued on Monday. They currently have a $30.00 target price on the medical instruments supplier’s stock. Canaccord Genuity’s price objective points to a potential downside of 22.00% from the company’s current price.
A number of other research analysts have also issued reports on LMAT. Zacks Investment Research lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Benchmark Co. lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. BidaskClub lowered LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective (up previously from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. LeMaitre Vascular presently has a consensus rating of “Hold” and an average target price of $32.00.
Shares of LeMaitre Vascular (LMAT) opened at 38.46 on Monday. LeMaitre Vascular has a 1-year low of $18.55 and a 1-year high of $39.29. The stock’s 50 day moving average price is $36.99 and its 200 day moving average price is $31.22. The stock has a market cap of $731.59 million, a PE ratio of 54.94 and a beta of 0.67.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. The business had revenue of $25.80 million during the quarter, compared to analyst estimates of $25.42 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts anticipate that LeMaitre Vascular will post $0.80 EPS for the current fiscal year.
LeMaitre Vascular announced that its Board of Directors has authorized a stock repurchase plan on Thursday, July 27th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the medical instruments supplier to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other LeMaitre Vascular news, CEO George W. Lemaitre sold 10,000 shares of LeMaitre Vascular stock in a transaction on Monday, August 7th. The stock was sold at an average price of $33.62, for a total transaction of $336,200.00. Following the sale, the chief executive officer now owns 3,436,808 shares of the company’s stock, valued at approximately $115,545,484.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman George W. Lemaitre sold 58,700 shares of LeMaitre Vascular stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $33.97, for a total value of $1,994,039.00. Following the sale, the chairman now directly owns 3,471,808 shares in the company, valued at approximately $117,937,317.76. The disclosure for this sale can be found here. Insiders have sold a total of 373,121 shares of company stock worth $12,825,992 in the last ninety days. 23.70% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in LMAT. Conestoga Capital Advisors LLC raised its stake in LeMaitre Vascular by 45.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 565,069 shares of the medical instruments supplier’s stock valued at $17,641,000 after acquiring an additional 177,379 shares in the last quarter. Vanguard Group Inc. raised its stake in LeMaitre Vascular by 23.5% during the 2nd quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock valued at $25,462,000 after acquiring an additional 155,249 shares in the last quarter. Janus Henderson Group PLC bought a new stake in LeMaitre Vascular during the 2nd quarter valued at $4,661,000. Bank of New York Mellon Corp raised its stake in LeMaitre Vascular by 137.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 210,628 shares of the medical instruments supplier’s stock valued at $6,574,000 after acquiring an additional 122,076 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in LeMaitre Vascular during the 2nd quarter valued at $3,197,000. 66.34% of the stock is currently owned by hedge funds and other institutional investors.
LeMaitre Vascular Company Profile
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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