Insider Selling: LeMaitre Vascular, Inc. (NASDAQ:LMAT) CEO Sells $602,400.00 in Stock

LeMaitre Vascular, Inc. (NASDAQ:LMAT) CEO George W. Lemaitre sold 8,000 shares of LeMaitre Vascular stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $75.30, for a total value of $602,400.00. Following the sale, the chief executive officer now owns 2,079,128 shares in the company, valued at approximately $156,558,338.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

LeMaitre Vascular Price Performance

Shares of LMAT stock traded down $0.90 during trading hours on Wednesday, reaching $75.00. 109,442 shares of the company’s stock were exchanged, compared to its average volume of 122,731. LeMaitre Vascular, Inc. has a 1 year low of $44.27 and a 1 year high of $76.24. The company has a market cap of $1.68 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.88. The company’s 50 day moving average is $66.47 and its two-hundred day moving average is $59.23.

LeMaitre Vascular (NASDAQ:LMAT) last released its 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. LeMaitre Vascular had a return on equity of 11.57% and a net margin of 16.99%. The company had revenue of $53.48 million during the quarter, compared to the consensus estimate of $51.50 million. During the same quarter last year, the company earned $0.27 earnings per share. LeMaitre Vascular’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, analysts predict that LeMaitre Vascular, Inc. will post 1.77 EPS for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, May 15th. LeMaitre Vascular’s dividend payout ratio is currently 42.38%.

Wall Street Analyst Weigh In

LMAT has been the topic of a number of research reports. Stifel Nicolaus upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and raised their price target for the stock from $59.00 to $75.00 in a research note on Friday, April 26th. JMP Securities upped their price target on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the company a “market outperform” rating in a research report on Friday, May 3rd. Barrington Research increased their target price on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. KeyCorp initiated coverage on LeMaitre Vascular in a research note on Tuesday, February 6th. They set a “sector weight” rating for the company. Finally, StockNews.com upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.83.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BluePath Capital Management LLC acquired a new stake in shares of LeMaitre Vascular in the 3rd quarter worth approximately $31,000. YHB Investment Advisors Inc. acquired a new stake in LeMaitre Vascular in the first quarter valued at $36,000. DekaBank Deutsche Girozentrale purchased a new position in shares of LeMaitre Vascular in the third quarter valued at $38,000. SRS Capital Advisors Inc. raised its stake in shares of LeMaitre Vascular by 325.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 685 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 524 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of LeMaitre Vascular in the 1st quarter worth about $206,000. 84.64% of the stock is owned by hedge funds and other institutional investors.

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.