LeMaitre Vascular (NASDAQ:LMAT) Lowered to Buy at BidaskClub

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BidaskClub cut shares of LeMaitre Vascular (NASDAQ:LMAT) from a strong-buy rating to a buy rating in a report issued on Saturday morning, BidAskClub reports.

Several other equities analysts have also issued reports on the stock. First Analysis upgraded shares of LeMaitre Vascular from a neutral rating to an outperform rating and boosted their target price for the company from $29.00 to $37.00 in a report on Thursday, July 25th. ValuEngine raised LeMaitre Vascular from a hold rating to a buy rating in a research note on Wednesday, September 4th. Lake Street Capital upped their target price on LeMaitre Vascular from $27.00 to $34.00 and gave the company a hold rating in a research report on Thursday, July 25th. Zacks Investment Research raised LeMaitre Vascular from a hold rating to a strong-buy rating and set a $38.00 target price for the company in a research note on Saturday, July 27th. Finally, Barrington Research reiterated an outperform rating and issued a $37.00 target price (up from $32.00) on shares of LeMaitre Vascular in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $35.33.

LeMaitre Vascular stock opened at $33.38 on Friday. The stock’s 50 day moving average is $31.87 and its 200 day moving average is $29.41. LeMaitre Vascular has a one year low of $21.79 and a one year high of $38.99. The firm has a market cap of $630.14 million, a P/E ratio of 39.74, a P/E/G ratio of 3.69 and a beta of 1.23.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Wednesday, July 24th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $29.48 million during the quarter, compared to analyst estimates of $28.90 million. LeMaitre Vascular had a net margin of 16.72% and a return on equity of 13.15%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. As a group, analysts predict that LeMaitre Vascular will post 0.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.085 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.02%. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 40.48%.

In related news, Chairman George W. Lemaitre sold 66,037 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $34.45, for a total transaction of $2,274,974.65. Following the transaction, the chairman now directly owns 3,171,124 shares of the company’s stock, valued at approximately $109,245,221.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman George W. Lemaitre sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $32.90, for a total value of $329,000.00. Following the transaction, the chairman now directly owns 3,135,730 shares in the company, valued at $103,165,517. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,037 shares of company stock valued at $3,310,555. 19.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of LeMaitre Vascular by 137.6% in the 2nd quarter. Bank of Montreal Can now owns 2,675 shares of the medical instruments supplier’s stock worth $75,000 after purchasing an additional 1,549 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in LeMaitre Vascular by 66,640.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,337 shares of the medical instruments supplier’s stock worth $103,000 after buying an additional 3,332 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of LeMaitre Vascular by 22.3% in the second quarter. JPMorgan Chase & Co. now owns 5,215 shares of the medical instruments supplier’s stock valued at $145,000 after buying an additional 951 shares in the last quarter. Globeflex Capital L P lifted its stake in shares of LeMaitre Vascular by 26.5% in the first quarter. Globeflex Capital L P now owns 6,578 shares of the medical instruments supplier’s stock valued at $204,000 after buying an additional 1,378 shares in the last quarter. Finally, BBT Capital Management LLC acquired a new position in shares of LeMaitre Vascular during the second quarter valued at about $234,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.

About LeMaitre Vascular

LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.

Further Reading: Mutual funds are not immune from market timing

Analyst Recommendations for LeMaitre Vascular (NASDAQ:LMAT)

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