LeMaitre Vascular, Inc. (LMAT) Short Interest Up 32.0% in September

LeMaitre Vascular, Inc. (NASDAQ:LMAT) saw a large increase in short interest during the month of September. As of September 29th, there was short interest totalling 921,148 shares, an increase of 32.0% from the September 15th total of 698,040 shares. Currently, 6.3% of the shares of the company are short sold. Based on an average daily trading volume, of 148,845 shares, the days-to-cover ratio is currently 6.2 days.

LeMaitre Vascular (NASDAQ:LMAT) opened at 38.21 on Thursday. LeMaitre Vascular has a one year low of $18.55 and a one year high of $39.29. The stock has a market cap of $726.83 million, a P/E ratio of 54.59 and a beta of 0.67. The stock has a 50 day moving average of $37.59 and a 200-day moving average of $32.03.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The firm had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $25.42 million. During the same period in the previous year, the business earned $0.14 earnings per share. LeMaitre Vascular’s revenue for the quarter was up 15.2% compared to the same quarter last year. Analysts anticipate that LeMaitre Vascular will post $0.80 EPS for the current year.

LeMaitre Vascular announced that its Board of Directors has approved a stock repurchase program on Thursday, July 27th that allows the company to repurchase $7.50 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

A number of equities analysts have commented on LMAT shares. Zacks Investment Research upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, August 1st. Benchmark Co. downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. BidaskClub downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Canaccord Genuity downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Monday, July 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective (up previously from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $32.00.

In other LeMaitre Vascular news, CEO George W. Lemaitre sold 10,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $33.62, for a total transaction of $336,200.00. Following the completion of the transaction, the chief executive officer now owns 3,436,808 shares in the company, valued at approximately $115,545,484.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO George W. Lemaitre sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $37.13, for a total transaction of $556,950.00. Following the transaction, the chief executive officer now owns 3,325,508 shares of the company’s stock, valued at approximately $123,476,112.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,121 shares of company stock valued at $12,825,992. 23.70% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of LMAT. Conestoga Capital Advisors LLC raised its position in LeMaitre Vascular by 45.8% in the second quarter. Conestoga Capital Advisors LLC now owns 565,069 shares of the medical instruments supplier’s stock worth $17,641,000 after acquiring an additional 177,379 shares in the last quarter. Vanguard Group Inc. raised its position in LeMaitre Vascular by 23.5% in the second quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock worth $25,462,000 after acquiring an additional 155,249 shares in the last quarter. Janus Henderson Group PLC bought a new stake in LeMaitre Vascular in the second quarter worth about $4,661,000. Bank of New York Mellon Corp raised its position in LeMaitre Vascular by 137.9% in the second quarter. Bank of New York Mellon Corp now owns 210,628 shares of the medical instruments supplier’s stock worth $6,574,000 after acquiring an additional 122,076 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in LeMaitre Vascular in the second quarter worth about $3,197,000. Hedge funds and other institutional investors own 66.34% of the company’s stock.

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About LeMaitre Vascular

LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.

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