LeMaitre Vascular (NASDAQ:LMAT) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of LeMaitre Vascular (NASDAQ:LMAT) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other brokerages have also commented on LMAT. Lake Street Capital began coverage on LeMaitre Vascular in a research note on Friday, August 2nd. They set a buy rating and a $105.00 price target on the stock. JMP Securities raised their price target on LeMaitre Vascular from $77.00 to $100.00 and gave the company a market outperform rating in a research note on Tuesday, August 20th. Roth Mkm reiterated a buy rating and issued a $100.00 target price on shares of LeMaitre Vascular in a research note on Friday, May 31st. Barrington Research lifted their target price on LeMaitre Vascular from $79.00 to $92.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Finally, Roth Capital upgraded LeMaitre Vascular to a strong-buy rating in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $90.33.

LeMaitre Vascular Trading Down 1.0 %

NASDAQ:LMAT opened at $89.86 on Tuesday. LeMaitre Vascular has a twelve month low of $44.27 and a twelve month high of $92.90. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 59.51, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89. The stock has a fifty day simple moving average of $84.58 and a 200-day simple moving average of $75.01.

LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. The business had revenue of $55.85 million during the quarter, compared to the consensus estimate of $54.98 million. LeMaitre Vascular had a return on equity of 12.63% and a net margin of 18.33%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. As a group, equities research analysts predict that LeMaitre Vascular will post 1.77 EPS for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, August 15th. LeMaitre Vascular’s dividend payout ratio is presently 42.38%.

Insider Buying and Selling

In related news, Director David B. Roberts sold 3,063 shares of LeMaitre Vascular stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $82.07, for a total transaction of $251,380.41. Following the completion of the sale, the director now owns 14,114 shares of the company’s stock, valued at $1,158,335.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other LeMaitre Vascular news, CEO George W. Lemaitre sold 27,030 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $86.27, for a total value of $2,331,878.10. Following the completion of the transaction, the chief executive officer now directly owns 1,958,328 shares of the company’s stock, valued at $168,944,956.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Roberts sold 3,063 shares of the business’s 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 transaction, the director now directly owns 14,114 shares of the company’s stock, valued at $1,158,335.98. The disclosure for this sale can be found here. Insiders sold 43,251 shares of company stock valued at $3,714,994 over the last quarter. 10.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LMAT. Mesirow Institutional Investment Management Inc. acquired a new position in LeMaitre Vascular in the fourth quarter valued at approximately $8,837,000. Driehaus Capital Management LLC increased its position in shares of LeMaitre Vascular by 52.2% in the second quarter. Driehaus Capital Management LLC now owns 264,217 shares of the medical instruments supplier’s stock valued at $21,740,000 after buying an additional 90,573 shares in the last quarter. F M Investments LLC purchased a new stake in shares of LeMaitre Vascular in the second quarter valued at approximately $7,443,000. Congress Asset Management Co. MA increased its position in shares of LeMaitre Vascular by 17.0% in the fourth quarter. Congress Asset Management Co. MA now owns 594,672 shares of the medical instruments supplier’s stock valued at $33,754,000 after buying an additional 86,293 shares in the last quarter. Finally, Summit Creek Advisors LLC increased its position in shares of LeMaitre Vascular by 37.8% in the fourth quarter. Summit Creek Advisors LLC now owns 228,501 shares of the medical instruments supplier’s stock valued at $12,970,000 after buying an additional 62,737 shares in the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.

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.