LeMaitre Vascular (NASDAQ:LMAT) Reaches New 12-Month High After Analyst Upgrade

LeMaitre Vascular, Inc. (NASDAQ:LMAT) reached a new 52-week high on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $75.99 and last traded at $75.71, with a volume of 62552 shares. The stock had previously closed at $74.22.

Several other research firms have also recently weighed in on LMAT. JMP Securities upped their target price on LeMaitre Vascular from $72.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Friday. Stifel Nicolaus upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and upped their target price for the stock from $59.00 to $75.00 in a research note on Friday, April 26th. KeyCorp began coverage on LeMaitre Vascular in a research note on Tuesday, February 6th. They issued a “sector weight” rating for the company. Finally, Barrington Research increased their price target on LeMaitre Vascular from $69.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, LeMaitre Vascular presently has a consensus rating of “Moderate Buy” and an average target price of $73.83.

Insider Activity at LeMaitre Vascular

In other LeMaitre Vascular news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the completion of the sale, the chief financial officer now directly owns 6,452 shares in the company, valued at approximately $450,091.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John A. Roush sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $69.00, for a total value of $517,500.00. Following the completion of the sale, the director now directly owns 2,278 shares in the company, valued at approximately $157,182. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the completion of the transaction, the chief financial officer now directly owns 6,452 shares in the company, valued at approximately $450,091.52. The disclosure for this sale can be found here. Insiders sold 114,036 shares of company stock worth $7,873,749 over the last three months. Company insiders own 10.79% of the company’s stock.

Hedge Funds Weigh In On LeMaitre Vascular

Several large investors have recently added to or reduced their stakes in the business. Shaker Investments LLC OH grew its holdings in shares of LeMaitre Vascular by 1.3% in the first quarter. Shaker Investments LLC OH now owns 13,658 shares of the medical instruments supplier’s stock valued at $906,000 after acquiring an additional 169 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of LeMaitre Vascular by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 23,656 shares of the medical instruments supplier’s stock worth $1,343,000 after purchasing an additional 187 shares during the last quarter. Riverwater Partners LLC raised its holdings in shares of LeMaitre Vascular by 2.5% in the 4th quarter. Riverwater Partners LLC now owns 8,216 shares of the medical instruments supplier’s stock worth $466,000 after purchasing an additional 198 shares during the period. Albion Financial Group UT grew its holdings in LeMaitre Vascular by 5.6% during the first quarter. Albion Financial Group UT now owns 3,974 shares of the medical instruments supplier’s stock valued at $264,000 after purchasing an additional 212 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in LeMaitre Vascular by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 17,341 shares of the medical instruments supplier’s stock worth $1,151,000 after buying an additional 225 shares during the last quarter. Institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Trading Up 2.1 %

The business has a 50-day moving average price of $65.93 and a 200 day moving average price of $58.85. The stock has a market cap of $1.70 billion, a PE ratio of 49.15, a PEG ratio of 2.99 and a beta of 0.88.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.57%. LeMaitre Vascular’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. On average, equities analysts predict that LeMaitre Vascular, Inc. will post 1.77 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.84%. The ex-dividend date is Wednesday, May 15th. LeMaitre Vascular’s dividend payout ratio is presently 42.38%.

LeMaitre Vascular Company Profile

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.