Insider Selling: LeMaitre Vascular, Inc. (NASDAQ:LMAT) Insider Sells 22,067 Shares of Stock
LeMaitre Vascular, Inc. (NASDAQ:LMAT) insider Peter R. Gebauer sold 22,067 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $34.28, for a total transaction of $756,456.76. Following the transaction, the insider now owns 4,486 shares of the company’s stock, valued at approximately $153,780.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
LeMaitre Vascular, Inc. (NASDAQ LMAT) opened at 33.16 on Monday. The company has a market cap of $623.91 million, a price-to-earnings ratio of 47.37 and a beta of 0.65. LeMaitre Vascular, Inc. has a 12 month low of $16.80 and a 12 month high of $36.09. The company’s 50 day moving average is $29.79 and its 200-day moving average is $26.87.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The firm had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $25.42 million. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, analysts expect that LeMaitre Vascular, Inc. will post $0.80 earnings per share for the current fiscal year.
LeMaitre Vascular announced that its board has initiated a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $7.50 million in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 23rd will be paid a $0.055 dividend. The ex-dividend date is Monday, August 21st. This represents a $0.22 dividend on an annualized basis and a yield of 0.66%. LeMaitre Vascular’s dividend payout ratio is currently 31.88%.
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A number of large investors have recently added to or reduced their stakes in LMAT. State Street Corp boosted its stake in LeMaitre Vascular by 12.7% in the fourth quarter. State Street Corp now owns 329,877 shares of the medical instruments supplier’s stock worth $8,358,000 after buying an additional 37,142 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in LeMaitre Vascular by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 908,337 shares of the medical instruments supplier’s stock worth $23,017,000 after buying an additional 58,080 shares in the last quarter. Bank of Montreal Can boosted its stake in LeMaitre Vascular by 32.2% in the first quarter. Bank of Montreal Can now owns 10,483 shares of the medical instruments supplier’s stock worth $258,000 after buying an additional 2,552 shares in the last quarter. Conestoga Capital Advisors LLC bought a new stake in LeMaitre Vascular during the first quarter worth about $9,549,000. Finally, Perkins Capital Management Inc. bought a new stake in LeMaitre Vascular during the first quarter worth about $2,677,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on LMAT shares. Zacks Investment Research upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, April 28th. Stifel Nicolaus upped their target price on shares of LeMaitre Vascular from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Canaccord Genuity restated a “buy” rating and set a $28.00 target price on shares of LeMaitre Vascular in a research report on Thursday, April 27th. Craig Hallum started coverage on shares of LeMaitre Vascular in a research report on Tuesday, June 6th. They set a “hold” rating and a $31.00 target price for the company. Finally, Benchmark Co. lowered shares of 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target 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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