LeMaitre Vascular (NASDAQ:LMAT) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

LeMaitre Vascular (NASDAQ:LMAT) issued its earnings results on Thursday. The medical instruments supplier reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05, Briefing.com reports. The business had revenue of $53.48 million during the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a return on equity of 10.57% and a net margin of 15.56%. LeMaitre Vascular’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. LeMaitre Vascular updated its Q2 guidance to $0.45-0.50 EPS and its FY24 guidance to $1.73-1.84 EPS.

LeMaitre Vascular Price Performance

Shares of LMAT traded up $7.45 on Friday, reaching $74.22. 329,984 shares of the stock traded hands, compared to its average volume of 116,703. LeMaitre Vascular has a 12 month low of $44.27 and a 12 month high of $74.64. The stock’s 50-day moving average price is $65.93 and its 200-day moving average price is $58.71. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 55.39, a P/E/G ratio of 2.88 and a beta of 0.88.

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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.86%. 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 is 47.76%.

Insider Buying and Selling

In other news, Director Lawrence J. Jasinski sold 5,110 shares of LeMaitre Vascular stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other LeMaitre Vascular news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $450,091.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence J. Jasinski sold 5,110 shares of LeMaitre Vascular stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total value of $344,925.00. Following the transaction, the director now directly owns 5,309 shares in the company, valued at $358,357.50. The disclosure for this sale can be found here. Insiders sold a total of 114,036 shares of company stock worth $7,873,749 over the last three months. 10.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barrington Research raised their price objective on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday. KeyCorp began coverage on shares of LeMaitre Vascular in a research note on Tuesday, February 6th. They set a “sector weight” rating for the company. JMP Securities raised their target price on LeMaitre Vascular from $72.00 to $77.00 and gave the company a “market outperform” rating in a research report on Friday. StockNews.com lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $75.00 in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.83.

About LeMaitre Vascular

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.