LeMaitre Vascular, Inc. (LMAT) Hits New 1-Year High at $36.36
LeMaitre Vascular, Inc. (NASDAQ:LMAT) shares reached a new 52-week high on Monday . The company traded as high as $36.36 and last traded at $36.37, with a volume of 302,999 shares changing hands. The stock had previously closed at $34.07.
A number of research firms have recently weighed in on LMAT. Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Tuesday, August 1st. BidaskClub downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target (up from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. 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, Canaccord Genuity downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research report on Monday, July 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.17.
The company has a 50-day moving average of $31.97 and a 200-day moving average of $28.18. The company has a market cap of $703.62 million, a PE ratio of 52.84 and a beta of 0.65.
LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $25.42 million. During the same period in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Analysts expect that LeMaitre Vascular, Inc. will post $0.80 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be issued a $0.055 dividend. The ex-dividend date is Monday, August 21st. This represents a $0.22 annualized dividend and a dividend yield of 0.59%. LeMaitre Vascular’s dividend payout ratio is currently 31.88%.
LeMaitre Vascular declared that its Board of Directors has approved a stock repurchase program 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 repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, CEO George W. Lemaitre sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $33.62, for a total value of $336,200.00. Following the transaction, the chief executive officer now directly owns 3,436,808 shares in the company, valued at approximately $115,545,484.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael T. Wijas sold 2,346 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $31.42, for a total transaction of $73,711.32. Following the completion of the transaction, the vice president now owns 3,584 shares in the company, valued at $112,609.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,784 shares of company stock worth $9,720,587. Company insiders own 23.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of 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 valued at $258,000 after buying an additional 2,552 shares in the last quarter. 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 valued at $3,705,000 after buying an additional 102,078 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of LeMaitre Vascular by 33.6% in the first quarter. Wells Fargo & Company MN now owns 130,765 shares of the medical instruments supplier’s stock valued at $3,220,000 after buying an additional 32,910 shares in the last quarter. Algert Global LLC raised its position in shares of LeMaitre Vascular by 93.9% in the first quarter. Algert Global LLC now owns 62,062 shares of the medical instruments supplier’s stock valued at $1,529,000 after buying an additional 30,062 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of LeMaitre Vascular by 27.7% in the first quarter. American Century Companies Inc. now owns 192,732 shares of the medical instruments supplier’s stock valued at $4,747,000 after buying an additional 41,848 shares in the last quarter. Hedge funds and other institutional investors own 66.32% of the company’s stock.
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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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