LeMaitre Vascular (NASDAQ:LMAT) Upgraded to “Buy” by Stifel Nicolaus

LeMaitre Vascular (NASDAQ:LMAT) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Friday, MarketBeat Ratings reports. The firm currently has a $75.00 target price on the medical instruments supplier’s stock, up from their previous target price of $59.00. Stifel Nicolaus’ price target indicates a potential upside of 19.07% from the company’s current price.

Several other brokerages have also recently weighed in on LMAT. KeyCorp started coverage on shares of LeMaitre Vascular in a research note on Tuesday, February 6th. They issued a “sector weight” rating on the stock. StockNews.com cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Barrington Research lifted their price target on shares of LeMaitre Vascular from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.33.

LeMaitre Vascular Stock Down 1.6 %

Shares of NASDAQ:LMAT opened at $62.99 on Friday. The firm’s 50 day moving average price is $65.30 and its 200-day moving average price is $58.05. LeMaitre Vascular has a twelve month low of $44.27 and a twelve month high of $74.64. The stock has a market capitalization of $1.41 billion, a PE ratio of 47.01, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings data on Tuesday, February 27th. The medical instruments supplier reported $0.38 earnings per share 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 for the quarter, compared to analysts’ expectations of $49.01 million. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts expect that LeMaitre Vascular will post 1.66 earnings per share for the current fiscal year.

Insider Activity at LeMaitre Vascular

In related news, CEO George W. Lemaitre sold 27,859 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $69.73, for a total transaction of $1,942,608.07. Following the sale, the chief executive officer now owns 2,255,737 shares of the company’s stock, valued at approximately $157,292,541.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO George W. Lemaitre sold 27,859 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $69.73, for a total transaction of $1,942,608.07. Following the sale, the chief executive officer now owns 2,255,737 shares of the company’s stock, valued at approximately $157,292,541.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of LeMaitre Vascular stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 6,452 shares in the company, valued at approximately $450,091.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,036 shares of company stock valued at $7,873,749. 10.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On LeMaitre Vascular

Several institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC grew its holdings in LeMaitre Vascular by 0.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,927,971 shares of the medical instruments supplier’s stock valued at $109,432,000 after buying an additional 10,390 shares in the last quarter. Vanguard Group Inc. grew its holdings in LeMaitre Vascular by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 1,548,870 shares of the medical instruments supplier’s stock valued at $87,914,000 after buying an additional 38,303 shares in the last quarter. Copeland Capital Management LLC grew its holdings in LeMaitre Vascular by 2.3% during the 4th quarter. Copeland Capital Management LLC now owns 1,259,961 shares of the medical instruments supplier’s stock valued at $71,515,000 after buying an additional 28,720 shares in the last quarter. Ranger Investment Management L.P. boosted its holdings in shares of LeMaitre Vascular by 1.5% in the 4th quarter. Ranger Investment Management L.P. now owns 912,503 shares of the medical instruments supplier’s stock worth $51,794,000 after purchasing an additional 13,681 shares during the period. Finally, Congress Asset Management Co. MA boosted its holdings in shares of LeMaitre Vascular by 12.0% in the 1st quarter. Congress Asset Management Co. MA now owns 666,083 shares of the medical instruments supplier’s stock worth $44,201,000 after purchasing an additional 71,411 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.

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.