LeMaitre Vascular (NASDAQ:LMAT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

A number of other research firms have also weighed in on LMAT. Cantor Fitzgerald began coverage on LeMaitre Vascular in a report on Tuesday, October 15th. They set a “neutral” rating and a $96.00 target price for the company. Oppenheimer reiterated an “outperform” rating and set a $93.00 price objective (up previously from $90.00) on shares of LeMaitre Vascular in a report on Friday, November 1st. Barrington Research increased their price objective on LeMaitre Vascular from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JMP Securities increased their price objective on LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a report on Tuesday, August 20th. Finally, Lake Street Capital assumed coverage on LeMaitre Vascular in a report on Friday, August 2nd. They set a “buy” rating and a $105.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, LeMaitre Vascular has an average rating of “Moderate Buy” and a consensus target price of $94.57.

LeMaitre Vascular Price Performance

Shares of LMAT traded up $3.18 during mid-day trading on Wednesday, reaching $104.25. 178,721 shares of the company’s stock traded hands, compared to its average volume of 134,146. LeMaitre Vascular has a 12 month low of $47.72 and a 12 month high of $104.81. The stock has a market cap of $2.34 billion, a P/E ratio of 56.97, a P/E/G ratio of 2.49 and a beta of 0.89. The stock’s 50-day moving average is $90.66 and its two-hundred day moving average is $84.27.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Thursday, October 31st. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. The company had revenue of $54.82 million for the quarter, compared to analysts’ expectations of $53.50 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. LeMaitre Vascular’s revenue was up 15.6% compared to the same quarter last year. Research analysts predict that LeMaitre Vascular will post 1.94 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, November 21st. LeMaitre Vascular’s payout ratio is presently 34.97%.

Insider Activity

In related news, Director David B. Roberts sold 3,063 shares of LeMaitre Vascular stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $82.07, for a total value of $251,380.41. Following the completion of the sale, the director now owns 14,114 shares in the company, valued at approximately $1,158,335.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.79% of the company’s stock.

Hedge Funds Weigh In On LeMaitre Vascular

A number of institutional investors and hedge funds have recently modified their holdings of LMAT. Norden Group LLC purchased a new stake in LeMaitre Vascular in the first quarter valued at $401,000. BNP Paribas Financial Markets boosted its stake in shares of LeMaitre Vascular by 135.6% during the 1st quarter. BNP Paribas Financial Markets now owns 22,917 shares of the medical instruments supplier’s stock worth $1,521,000 after acquiring an additional 13,189 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in LeMaitre Vascular by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 17,341 shares of the medical instruments supplier’s stock valued at $1,151,000 after purchasing an additional 225 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in LeMaitre Vascular in the 1st quarter valued at approximately $206,000. Finally, Quantbot Technologies LP increased its stake in LeMaitre Vascular by 1,001.4% in the 1st quarter. Quantbot Technologies LP now owns 7,335 shares of the medical instruments supplier’s stock valued at $487,000 after purchasing an additional 6,669 shares in the last quarter. Institutional investors and hedge funds 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.