LeMaitre Vascular (NASDAQ:LMAT) Rating Increased to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a buy rating in a research note published on Friday, Marketbeat reports. They currently have $75.00 price target on the medical instruments supplier’s stock, up from their prior price target of $59.00.

A number of other research analysts have also recently issued reports on LMAT. KeyCorp assumed coverage on shares of LeMaitre Vascular in a report on Tuesday, February 6th. They issued a sector weight rating for the company. StockNews.com lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a research report on Tuesday, April 16th. Finally, Barrington Research raised their target price on shares of LeMaitre Vascular from $66.00 to $69.00 and gave the stock an outperform rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $69.33.

LeMaitre Vascular Stock Up 1.2 %

NASDAQ LMAT opened at $66.24 on Friday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 49.43, a P/E/G ratio of 2.82 and a beta of 0.87. LeMaitre Vascular has a 52-week low of $44.27 and a 52-week high of $74.64. The firm has a 50-day moving average price of $65.43 and a 200 day moving average price of $58.29.

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

LeMaitre Vascular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.64 dividend on an annualized basis and a yield of 0.97%. 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%.

Insiders Place Their Bets

In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the transaction, the director now owns 2,278 shares of the company’s stock, valued at $157,182. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director John A. Roush sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total value of $517,500.00. Following the transaction, the director now owns 2,278 shares of the company’s stock, valued at approximately $157,182. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence J. Jasinski sold 5,110 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total transaction of $344,925.00. Following the completion of the transaction, the director now directly owns 5,309 shares in the company, valued at approximately $358,357.50. The disclosure for this sale can be found here. Insiders have sold a total of 114,036 shares of company stock valued at $7,873,749 over the last quarter. Company insiders own 10.79% of the company’s stock.

Hedge Funds Weigh In On LeMaitre Vascular

A number of hedge funds have recently made changes to their positions in LMAT. Mesirow Institutional Investment Management Inc. purchased a new stake in LeMaitre Vascular during the 4th quarter worth $8,837,000. Congress Asset Management Co. MA increased its stake in LeMaitre Vascular by 36.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 508,379 shares of the medical instruments supplier’s stock worth $27,696,000 after buying an additional 135,266 shares during the period. Ranger Investment Management L.P. grew its holdings in LeMaitre Vascular by 15.8% during the 3rd quarter. Ranger Investment Management L.P. now owns 898,822 shares of the medical instruments supplier’s stock worth $48,968,000 after acquiring an additional 122,601 shares in the last quarter. Summit Creek Advisors LLC grew its holdings in LeMaitre Vascular by 37.8% during the 4th quarter. Summit Creek Advisors LLC now owns 228,501 shares of the medical instruments supplier’s stock worth $12,970,000 after acquiring an additional 62,737 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its holdings in LeMaitre Vascular by 3.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,917,581 shares of the medical instruments supplier’s stock worth $104,470,000 after acquiring an additional 55,895 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.