Citizens Jmp Begins Coverage on LeMaitre Vascular (NASDAQ:LMAT)

Analysts at Citizens Jmp began coverage on shares of LeMaitre Vascular (NASDAQ:LMAT) in a research report issued on Thursday, Marketbeat reports. The brokerage set a “market outperform” rating and a $110.00 price target on the medical instruments supplier’s stock. Citizens Jmp‘s price target indicates a potential upside of 35.99% from the company’s current price.

A number of other analysts have also weighed in on the company. Wells Fargo & Company lowered their target price on LeMaitre Vascular from $94.00 to $86.00 and set an “equal weight” rating for the company in a research note on Thursday. Wall Street Zen downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Citigroup reissued a “market outperform” rating on shares of LeMaitre Vascular in a report on Thursday. Weiss Ratings cut shares of LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Finally, Seaport Research Partners set a $110.00 price objective on shares of LeMaitre Vascular in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, LeMaitre Vascular currently has an average rating of “Hold” and a consensus target price of $105.60.

LeMaitre Vascular Price Performance

Shares of NASDAQ:LMAT traded down $2.60 during trading on Thursday, reaching $80.89. The stock had a trading volume of 326,441 shares, compared to its average volume of 264,238. The stock has a market capitalization of $1.85 billion, a PE ratio of 29.41, a P/E/G ratio of 2.34 and a beta of 0.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 16.31 and a quick ratio of 13.96. LeMaitre Vascular has a 52 week low of $78.22 and a 52 week high of $118.01. The business’s 50-day moving average price is $81.48 and its 200 day moving average price is $94.11.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Wednesday, November 4th. The medical instruments supplier reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The business had revenue of $67.97 million for the quarter, compared to analyst estimates of $67.39 million. During the same period in the prior year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts predict that LeMaitre Vascular will post 2.83 earnings per share for the current year.

Hedge Funds Weigh In On LeMaitre Vascular

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in LeMaitre Vascular by 1.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 159,868 shares of the medical instruments supplier’s stock worth $13,203,000 after purchasing an additional 2,614 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of LeMaitre Vascular by 53.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,677 shares of the medical instruments supplier’s stock valued at $386,000 after purchasing an additional 1,628 shares during the last quarter. Riverbridge Partners LLC grew its position in shares of LeMaitre Vascular by 12.6% during the 3rd quarter. Riverbridge Partners LLC now owns 99,596 shares of the medical instruments supplier’s stock worth $8,226,000 after buying an additional 11,129 shares during the period. Summit Creek Advisors LLC grew its position in shares of LeMaitre Vascular by 0.9% during the 3rd quarter. Summit Creek Advisors LLC now owns 49,624 shares of the medical instruments supplier’s stock worth $4,098,000 after buying an additional 450 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of LeMaitre Vascular by 11.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 13,650 shares of the medical instruments supplier’s stock worth $1,127,000 after buying an additional 1,352 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

More LeMaitre Vascular News

Here are the key news stories impacting LeMaitre Vascular this week:

• Positive Sentiment: Citizens JMP initiated coverage with a “Market Outperform” rating and a $110 price target, implying substantial upside from the share price cited in the report. Citizens JMP price target
• Positive Sentiment: Third-quarter revenue rose 11.3% year over year to $67.97 million, topping analysts’ expectations of $67.39 million. The company also declared a $0.25 dividend. Quarterly results Dividend announcement
• Neutral Sentiment: Management plans to participate in three upcoming investor conferences; the announcement did not provide new financial guidance. Investor conferences
• Negative Sentiment: Third-quarter EPS of $0.65 missed the $0.69 consensus and declined from $0.75 a year earlier. Reports also pointed to a cautious outlook, which may outweigh the revenue beat and help explain investor concern. Q3 earnings miss Q3 outlook analysis
• Negative Sentiment: Barrington lowered its price target to $91 from $95, though it maintained an Outperform rating. The reduced target signals less near-term upside in that firm’s view. Barrington price-target change

About LeMaitre Vascular

LeMaitre Vascular, Inc is a medical device company focused on the treatment of peripheral vascular disease. The company develops, manufactures and markets products used primarily by vascular surgeons and other specialists in open vascular surgery procedures.

Its product portfolio includes biological and synthetic vascular grafts, carotid shunts, embolectomy and thrombectomy catheters, valvulotomes, vessel closure devices, vascular patches and surgical instruments. These products are designed to support procedures involving the arteries and veins, including the repair, reconstruction and treatment of diseased or obstructed blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular sells its products through a combination of direct sales personnel and distributors.