LeMaitre Vascular (NASDAQ:LMAT) Hits New 52-Week Low – Time to Sell?

LeMaitre Vascular, Inc. (NASDAQ:LMAT) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $78.22 and last traded at $78.6090, with a volume of 4254 shares changing hands. The stock had previously closed at $78.87.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LMAT shares. Wells Fargo & Company cut their price target on LeMaitre Vascular from $104.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 5th. Citigroup reissued a “market outperform” rating on shares of LeMaitre Vascular in a report on Tuesday, July 21st. Barrington Research lowered shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 5th. Weiss Ratings cut shares of LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 14th. Finally, Zacks Research downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, LeMaitre Vascular currently has a consensus rating of “Hold” and a consensus price target of $110.60.

LeMaitre Vascular Stock Performance

The stock has a market cap of $1.80 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.28 and a beta of 0.50. The stock has a fifty day moving average of $87.60 and a 200-day moving average of $97.99. The company has a quick ratio of 13.96, a current ratio of 16.31 and a debt-to-equity ratio of 0.40.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $0.74 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.07). LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The company had revenue of $70.38 million for the quarter, compared to analysts’ expectations of $71.47 million. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that LeMaitre Vascular, Inc. will post 2.89 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 35.09%.

Institutional Investors Weigh In On LeMaitre Vascular

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of LeMaitre Vascular during the 2nd quarter worth approximately $314,075,000. Conestoga Capital Advisors LLC boosted its stake in shares of LeMaitre Vascular by 3.6% in the first quarter. Conestoga Capital Advisors LLC now owns 1,476,813 shares of the medical instruments supplier’s stock valued at $161,224,000 after buying an additional 51,825 shares in the last quarter. First Trust Advisors LP grew its holdings in LeMaitre Vascular by 6.2% during the first quarter. First Trust Advisors LP now owns 998,071 shares of the medical instruments supplier’s stock worth $108,959,000 after acquiring an additional 57,931 shares during the period. Ranger Investment Management L.P. acquired a new position in LeMaitre Vascular during the second quarter worth $21,045,000. Finally, Rice Hall James & Associates LLC raised its position in LeMaitre Vascular by 1.3% in the first quarter. Rice Hall James & Associates LLC now owns 184,725 shares of the medical instruments supplier’s stock worth $20,166,000 after acquiring an additional 2,449 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc develops, manufactures and markets medical devices used primarily in the treatment of peripheral vascular disease. Its products are designed for vascular surgeons and other specialists performing procedures on arteries and veins outside the heart and brain.

The company’s portfolio includes biologic and synthetic vascular grafts, thrombectomy catheters, angioplasty balloons, valvulotomes, vascular shunts, vessel-closure devices and other surgical instruments. LeMaitre also offers products used in vessel preparation, plaque removal and the repair or replacement of diseased blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular serves customers in the United States and international markets.