LeMaitre Vascular (LMAT) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $35.00 price objective on the medical instruments supplier’s stock.
According to Zacks, “LeMaitre Vascular, Inc. is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects more than 200 million people worldwide. 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 have also weighed in on LMAT. Stifel Nicolaus restated a buy rating on shares of LeMaitre Vascular in a research report on Sunday, October 29th. BidaskClub lowered shares of LeMaitre Vascular from a sell rating to a strong sell rating in a research report on Wednesday. Canaccord Genuity restated a hold rating and set a $30.00 price target on shares of LeMaitre Vascular in a research report on Monday, October 9th. Benchmark lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a research report on Friday, October 27th. Finally, First Analysis lowered shares of LeMaitre Vascular from an overweight rating to an equal weight rating and set a $34.00 price target on the stock. in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $32.20.
LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $25.49 million. LeMaitre Vascular had a net margin of 15.81% and a return on equity of 16.16%. LeMaitre Vascular’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. research analysts expect that LeMaitre Vascular will post 0.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, November 21st. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 28.57%.
In other LeMaitre Vascular news, insider David B. Roberts sold 4,123 shares of LeMaitre Vascular stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $32.14, for a total transaction of $132,513.22. Following the transaction, the insider now directly owns 24,482 shares of the company’s stock, valued at $786,851.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.70% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its stake in LeMaitre Vascular by 11,612.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 3,716 shares during the period. Victory Capital Management Inc. raised its stake in LeMaitre Vascular by 181.2% during the third quarter. Victory Capital Management Inc. now owns 4,139 shares of the medical instruments supplier’s stock worth $155,000 after purchasing an additional 2,667 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in LeMaitre Vascular during the second quarter worth about $137,000. LS Investment Advisors LLC raised its stake in LeMaitre Vascular by 41.8% during the third quarter. LS Investment Advisors LLC now owns 4,510 shares of the medical instruments supplier’s stock worth $169,000 after purchasing an additional 1,330 shares during the period. Finally, Royce & Associates LP purchased a new position in LeMaitre Vascular during the second quarter worth about $156,000. 69.24% of the stock is currently owned by institutional investors.
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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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