LeMaitre Vascular (NASDAQ:LMAT) Sets New 12-Month Low – Here’s Why

LeMaitre Vascular, Inc. (NASDAQ:LMAT) shares reached a new 52-week low on Monday . The company traded as low as $78.22 and last traded at $78.6090, with a volume of 4254 shares traded. The stock had previously closed at $78.87.

Analyst Upgrades and Downgrades

LMAT has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of LeMaitre Vascular from $104.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings cut shares of LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Zacks Research downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Barrington Research cut shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, LeMaitre Vascular presently has a consensus rating of “Hold” and a consensus price target of $110.60.

LeMaitre Vascular Stock Performance

The stock has a fifty day simple moving average of $86.84 and a two-hundred day simple moving average of $97.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 13.96 and a current ratio of 16.31. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.28 and a beta of 0.50.

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

LeMaitre Vascular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 20th. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 35.09%.

Hedge Funds Weigh In On LeMaitre Vascular

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of LeMaitre Vascular during the second quarter worth $314,075,000. Conestoga Capital Advisors LLC lifted its stake in shares of LeMaitre Vascular by 3.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,476,813 shares of the medical instruments supplier’s stock valued at $161,224,000 after acquiring an additional 51,825 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of LeMaitre Vascular by 6.2% during the 1st quarter. First Trust Advisors LP now owns 998,071 shares of the medical instruments supplier’s stock valued at $108,959,000 after acquiring an additional 57,931 shares in the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of LeMaitre Vascular during the 2nd quarter valued at $21,045,000. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of LeMaitre Vascular by 1.3% during the 1st quarter. Rice Hall James & Associates LLC now owns 184,725 shares of the medical instruments supplier’s stock valued at $20,166,000 after acquiring an additional 2,449 shares in the last quarter. Institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc develops, manufactures and markets medical devices used primarily in the treatment of peripheral vascular disease. Its products are designed for vascular surgeons and other specialists performing procedures on arteries and veins outside the heart and brain.

The company’s portfolio includes biologic and synthetic vascular grafts, thrombectomy catheters, angioplasty balloons, valvulotomes, vascular shunts, vessel-closure devices and other surgical instruments. LeMaitre also offers products used in vessel preparation, plaque removal and the repair or replacement of diseased blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular serves customers in the United States and international markets.