LeMaitre Vascular (NASDAQ:LMAT) Sets New 52-Week High After Earnings Beat

LeMaitre Vascular, Inc. (NASDAQ:LMAT) shares hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $99.22 and last traded at $98.50, with a volume of 16733 shares. The stock had previously closed at $88.39.

The medical instruments supplier reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. LeMaitre Vascular had a return on equity of 13.39% and a net margin of 19.40%. The firm had revenue of $54.82 million for the quarter, compared to analyst estimates of $53.50 million. During the same period last year, the company earned $0.33 earnings per share. LeMaitre Vascular’s revenue for the quarter was up 15.6% compared to the same quarter last year.

LeMaitre Vascular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, November 21st. LeMaitre Vascular’s dividend payout ratio is currently 34.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LMAT shares. Oppenheimer reissued an “outperform” rating and set a $93.00 target price (up from $90.00) on shares of LeMaitre Vascular in a research note on Friday. Cantor Fitzgerald started coverage on shares of LeMaitre Vascular in a report on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 price target for the company. Lake Street Capital began coverage on shares of LeMaitre Vascular in a research report on Friday, August 2nd. They set a “buy” rating and a $105.00 price objective for the company. StockNews.com cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, JMP Securities upped their target price on shares of LeMaitre Vascular from $77.00 to $100.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.57.

Insider Buying and Selling

In other LeMaitre Vascular news, Director David B. Roberts sold 3,063 shares of the 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 sale, the director now directly owns 14,114 shares of the company’s stock, valued at approximately $1,158,335.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 10.79% of the stock is owned by insiders.

Hedge Funds Weigh In On LeMaitre Vascular

Several large investors have recently bought and sold shares of LMAT. NBC Securities Inc. lifted its holdings in LeMaitre Vascular by 73.2% during the 3rd quarter. NBC Securities Inc. now owns 433 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 183 shares during the last quarter. GAMMA Investing LLC boosted its stake in LeMaitre Vascular by 57.0% in the second quarter. GAMMA Investing LLC now owns 548 shares of the medical instruments supplier’s stock valued at $45,000 after acquiring an additional 199 shares in the last quarter. West Oak Capital LLC purchased a new position in shares of LeMaitre Vascular during the second quarter worth about $58,000. USA Financial Formulas purchased a new position in shares of LeMaitre Vascular during the third quarter worth about $60,000. Finally, nVerses Capital LLC increased its position in shares of LeMaitre Vascular by 33.3% during the second quarter. nVerses Capital LLC now owns 800 shares of the medical instruments supplier’s stock worth $66,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Trading Up 7.3 %

The firm has a market capitalization of $2.13 billion, a PE ratio of 51.85, a P/E/G ratio of 2.32 and a beta of 0.89. The company has a fifty day moving average price of $89.59 and a two-hundred day moving average price of $83.11.

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.