Insider Selling: LeMaitre Vascular Inc (NASDAQ:LMAT) Director Sells 15,000 Shares of Stock

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LeMaitre Vascular Inc (NASDAQ:LMAT) Director Michael H. Thomas sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $32.10, for a total transaction of $481,500.00. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $481,500. The sale was disclosed in a filing with the SEC, which is accessible through this link.

LMAT stock opened at $31.00 on Friday. LeMaitre Vascular Inc has a 12-month low of $21.79 and a 12-month high of $38.99. The company has a market cap of $631.93 million, a price-to-earnings ratio of 36.90, a PEG ratio of 3.70 and a beta of 1.15. The company has a 50 day moving average of $30.43 and a two-hundred day moving average of $28.61.

LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Wednesday, July 24th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. LeMaitre Vascular had a net margin of 16.72% and a return on equity of 13.15%. The company had revenue of $29.48 million during the quarter, compared to the consensus estimate of $28.90 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts expect that LeMaitre Vascular Inc will post 0.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be given a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.34 dividend on an annualized basis and a yield of 1.10%. LeMaitre Vascular’s payout ratio is 40.48%.

A number of hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC purchased a new stake in LeMaitre Vascular in the 2nd quarter worth approximately $2,612,000. Cubist Systematic Strategies LLC lifted its position in LeMaitre Vascular by 135.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,957 shares of the medical instruments supplier’s stock worth $446,000 after buying an additional 9,181 shares in the last quarter. Morgan Stanley lifted its position in LeMaitre Vascular by 151.7% in the 2nd quarter. Morgan Stanley now owns 202,672 shares of the medical instruments supplier’s stock worth $5,671,000 after buying an additional 122,152 shares in the last quarter. Bank of America Corp DE lifted its position in LeMaitre Vascular by 29.9% in the 2nd quarter. Bank of America Corp DE now owns 18,859 shares of the medical instruments supplier’s stock worth $528,000 after buying an additional 4,341 shares in the last quarter. Finally, Marshall Wace North America L.P. lifted its position in LeMaitre Vascular by 33.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 55,278 shares of the medical instruments supplier’s stock worth $1,546,000 after buying an additional 13,916 shares in the last quarter. Institutional investors own 78.35% of the company’s stock.

Several equities research analysts recently commented on LMAT shares. BidaskClub upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of LeMaitre Vascular from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research report on Saturday, July 27th. Barrington Research restated an “outperform” rating and issued a $37.00 price target (up previously from $32.00) on shares of LeMaitre Vascular in a research report on Thursday, July 25th. ValuEngine upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, First Analysis upgraded shares of LeMaitre Vascular from a “neutral” rating to an “outperform” rating and upped their price target for the company from $29.00 to $37.00 in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.33.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.

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