LeMaitre Vascular, Inc. (NASDAQ:LMAT) Receives Average Recommendation of “Hold” from Brokerages

LeMaitre Vascular, Inc. (NASDAQ:LMAT) has been given an average rating of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $110.60.

A number of research analysts have recently issued reports on the stock. Citigroup reaffirmed a “market outperform” rating on shares of LeMaitre Vascular in a research report on Tuesday, July 21st. Zacks Research cut shares of LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Citizens Jmp raised their target price on shares of LeMaitre Vascular from $118.00 to $127.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Barrington Research lowered shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings downgraded LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 14th.

LeMaitre Vascular Trading Up 1.0%

LMAT opened at $81.08 on Wednesday. The company has a current ratio of 16.31, a quick ratio of 13.96 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 2.32 and a beta of 0.50. LeMaitre Vascular has a 12 month low of $78.27 and a 12 month high of $118.01. The stock has a fifty day moving average price of $92.66 and a 200-day moving average price of $99.31.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.07). LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The company had revenue of $70.38 million for the quarter, compared to the consensus estimate of $71.47 million. During the same period in the previous year, the business earned $0.60 EPS. LeMaitre Vascular’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that LeMaitre Vascular will post 2.89 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. LeMaitre Vascular’s payout ratio is 35.09%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in LeMaitre Vascular in the second quarter worth about $314,075,000. California State Teachers Retirement System grew its stake in shares of LeMaitre Vascular by 11,308.5% during the second quarter. California State Teachers Retirement System now owns 2,285,575 shares of the medical instruments supplier’s stock worth $219,324,000 after acquiring an additional 2,265,541 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of LeMaitre Vascular by 144.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 391,254 shares of the medical instruments supplier’s stock valued at $31,731,000 after acquiring an additional 231,157 shares in the last quarter. Ranger Investment Management L.P. acquired a new position in shares of LeMaitre Vascular during the second quarter valued at about $21,045,000. Finally, Rice Hall James & Associates LLC purchased a new position in shares of LeMaitre Vascular in the 2nd quarter valued at approximately $18,223,000. 84.64% of the stock is owned by institutional investors and hedge funds.

About LeMaitre Vascular

LeMaitre Vascular, Inc is a specialty medical device company focused on the development, manufacture and marketing of products for the treatment of peripheral vascular disease. Headquartered in Burlington, Massachusetts, the company’s offerings include a broad portfolio of vascular surgical instruments, grafts, patches, catheters and embolic protection devices. LeMaitre’s product lines address key areas such as arterial reconstruction, endovascular repair and vascular access, serving the needs of cardiovascular surgeons and interventional specialists.

Founded in 1983 by George D.