Lawrence J. Jasinski Sells 6,500 Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) Stock
LeMaitre Vascular, Inc. (NASDAQ:LMAT) Director Lawrence J. Jasinski sold 6,500 shares of LeMaitre Vascular stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.47, for a total value of $224,055.00. Following the transaction, the director now owns 12,863 shares in the company, valued at approximately $443,387.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) opened at 33.16 on Friday. The firm has a 50-day moving average price of $29.79 and a 200-day moving average price of $26.87. The stock has a market cap of $623.91 million, a P/E ratio of 47.37 and a beta of 0.65. LeMaitre Vascular, Inc. has a 52-week low of $16.80 and a 52-week high of $36.09.
LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $25.42 million. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. LeMaitre Vascular’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. On average, analysts anticipate that LeMaitre Vascular, Inc. will post $0.80 EPS for the current fiscal year.
LeMaitre Vascular declared that its Board of Directors has authorized a share repurchase program 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 programs are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Monday, August 21st. LeMaitre Vascular’s dividend payout ratio is presently 31.88%.
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Several hedge funds and other institutional investors have recently modified their holdings of LMAT. Ameriprise Financial Inc. raised its position in shares of LeMaitre Vascular by 52.3% in the first quarter. Ameriprise Financial Inc. now owns 201,508 shares of the medical instruments supplier’s stock worth $4,963,000 after buying an additional 69,186 shares in the last quarter. Conestoga Capital Advisors LLC acquired a new position in shares of LeMaitre Vascular during the first quarter worth $9,549,000. Russell Investments Group Ltd. raised its position in shares of LeMaitre Vascular by 211.2% in the first quarter. Russell Investments Group Ltd. now owns 150,413 shares of the medical instruments supplier’s stock worth $3,705,000 after buying an additional 102,078 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of LeMaitre Vascular during the first quarter worth $988,000. Finally, AQR Capital Management LLC raised its position in shares of LeMaitre Vascular by 35.4% in the first quarter. AQR Capital Management LLC now owns 219,888 shares of the medical instruments supplier’s stock worth $5,416,000 after buying an additional 57,525 shares in the last quarter. 67.21% of the stock is currently owned by institutional investors.
LMAT has been the topic of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price objective on shares of LeMaitre Vascular in a research report on Thursday, April 27th. Stifel Nicolaus lifted their price objective on LeMaitre Vascular from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Craig Hallum initiated coverage on LeMaitre Vascular in a research report on Tuesday, June 6th. They set a “hold” rating and a $31.00 price objective on the stock. Benchmark Co. downgraded 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. Finally, Zacks Investment Research downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. LeMaitre Vascular has an average rating of “Buy” and a consensus target price of $30.17.
About LeMaitre Vascular
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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