LeMaitre Vascular (NASDAQ:LMAT) Cut to Hold at StockNews.com

StockNews.com cut shares of LeMaitre Vascular (NASDAQ:LMAT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Other equities research analysts also recently issued reports about the company. Barrington Research increased their price target on LeMaitre Vascular from $66.00 to $69.00 and gave the stock an outperform rating in a report on Wednesday, February 28th. KeyCorp started coverage on shares of LeMaitre Vascular in a report on Tuesday, February 6th. They issued a sector weight rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $68.20.

LeMaitre Vascular Stock Performance

Shares of LeMaitre Vascular stock opened at $62.62 on Tuesday. The company has a market capitalization of $1.40 billion, a P/E ratio of 46.73, a PEG ratio of 2.76 and a beta of 0.87. LeMaitre Vascular has a 1 year low of $44.27 and a 1 year high of $74.64. The company’s fifty day moving average is $65.06 and its two-hundred day moving average is $57.79.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $48.90 million for the quarter, compared to analyst estimates of $49.01 million. LeMaitre Vascular had a return on equity of 10.57% and a net margin of 15.56%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts expect that LeMaitre Vascular will post 1.66 earnings per share for the current year.

LeMaitre Vascular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Wednesday, March 13th. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.14. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 47.76%.

Insider Buying and Selling

In other LeMaitre Vascular news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $69.76, for a total value of $2,578,817.92. Following the completion of the transaction, the chief financial officer now directly owns 6,452 shares of the company’s stock, valued at $450,091.52. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO George W. Lemaitre sold 27,859 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $69.73, for a total value of $1,942,608.07. Following the sale, the chief executive officer now directly owns 2,255,737 shares in the company, valued at approximately $157,292,541.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the transaction, the chief financial officer now owns 6,452 shares of the company’s stock, valued at $450,091.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,036 shares of company stock valued at $7,873,749. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of LeMaitre Vascular

Several institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC acquired a new position in shares of LeMaitre Vascular during the 1st quarter worth approximately $380,000. West Tower Group LLC raised its holdings in shares of LeMaitre Vascular by 201.3% in the fourth quarter. West Tower Group LLC now owns 467 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 312 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of LeMaitre Vascular during the third quarter valued at $31,000. Captrust Financial Advisors boosted its stake in shares of LeMaitre Vascular by 555.3% during the first quarter. Captrust Financial Advisors now owns 616 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 522 shares during the last quarter. Finally, FMR LLC increased its position in LeMaitre Vascular by 111.7% during the 1st quarter. FMR LLC now owns 633 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.