LeMaitre Vascular (NASDAQ:LMAT) Price Target Raised to $77.00 at JMP Securities

LeMaitre Vascular (NASDAQ:LMAT) had its target price raised by JMP Securities from $72.00 to $77.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a market outperform rating on the medical instruments supplier’s stock.

LMAT has been the subject of a number of other reports. StockNews.com downgraded LeMaitre Vascular from a buy rating to a hold rating in a research note on Tuesday, April 16th. Stifel Nicolaus upgraded LeMaitre Vascular from a hold rating to a buy rating and boosted their price objective for the company from $59.00 to $75.00 in a research note on Friday, April 26th. Barrington Research boosted their price target on LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a report on Friday. Finally, KeyCorp initiated coverage on LeMaitre Vascular in a report on Tuesday, February 6th. They issued a sector weight rating on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LeMaitre Vascular has a consensus rating of Moderate Buy and a consensus price target of $73.83.

LeMaitre Vascular Price Performance

Shares of LMAT opened at $74.22 on Friday. The firm’s 50 day simple moving average is $65.93 and its 200 day simple moving average is $58.71. The company has a market capitalization of $1.67 billion, a P/E ratio of 49.15, a P/E/G ratio of 2.88 and a beta of 0.88. LeMaitre Vascular has a 1-year low of $44.27 and a 1-year high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.75%. The business had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $51.50 million. During the same period last year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that LeMaitre Vascular will post 1.66 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, May 15th. LeMaitre Vascular’s dividend payout ratio is currently 42.38%.

Insiders Place Their Bets

In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the completion of the transaction, the director now owns 2,278 shares in the company, valued at approximately $157,182. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John A. Roush sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total value of $517,500.00. Following the completion of the sale, the director now owns 2,278 shares in the company, valued at approximately $157,182. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence J. Jasinski sold 5,110 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were 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 $358,357.50. The disclosure for this sale can be found here. Insiders sold 114,036 shares of company stock worth $7,873,749 in the last 90 days. Corporate insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMAT. BluePath Capital Management LLC purchased a new position in LeMaitre Vascular in the 3rd quarter valued at about $31,000. YHB Investment Advisors Inc. purchased a new position in shares of LeMaitre Vascular during the 1st quarter worth about $36,000. DekaBank Deutsche Girozentrale purchased a new position in LeMaitre Vascular in the third quarter valued at approximately $38,000. SRS Capital Advisors Inc. raised its holdings in LeMaitre Vascular by 325.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 685 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 524 shares during the period. Finally, Whitegate Investment Counselors Inc. acquired a new stake in LeMaitre Vascular in the first quarter valued at approximately $216,000. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

LeMaitre Vascular Company Profile

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.