LeMaitre Vascular (NASDAQ:LMAT) Releases Q2 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.450-0.500 for the period, compared to the consensus estimate of 0.440. The company issued revenue guidance of $53.7 million-$56.1 million, compared to the consensus revenue estimate of $54.3 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.730-1.840 EPS.

LeMaitre Vascular Stock Performance

LMAT stock opened at $74.22 on Monday. The company’s 50-day simple moving average is $65.93 and its 200 day simple moving average is $58.85. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $74.64. The company has a market capitalization of $1.67 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 2.99 and a beta of 0.88.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $53.48 million for the quarter, compared to the consensus estimate of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.57%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. On average, analysts forecast that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LMAT. StockNews.com upgraded shares of LeMaitre Vascular from a hold rating to a buy rating in a report on Friday. Barrington Research raised their price objective on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a research report on Friday. 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. Stifel Nicolaus raised LeMaitre Vascular from a hold rating to a buy rating and lifted their target price for the company from $59.00 to $75.00 in a research report on Friday, April 26th. Finally, JMP Securities raised their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $73.83.

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 dated Thursday, March 7th. The shares were sold at an average price of $69.00, for a total value of $517,500.00. Following the transaction, the director now directly owns 2,278 shares in the company, valued at $157,182. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director John A. Roush sold 7,500 shares of the stock in a transaction on Thursday, March 7th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George W. Lemaitre sold 36,600 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $68.03, for a total value of $2,489,898.00. Following the transaction, the chief executive officer now owns 2,187,526 shares of the company’s stock, valued at approximately $148,817,393.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,036 shares of company stock valued at $7,873,749. Insiders own 10.79% 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.