LeMaitre Vascular (NASDAQ:LMAT) Reaches New 12-Month Low – What’s Next?

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s stock price reached a new 52-week low on Thursday. The stock traded as low as $77.83 and last traded at $77.6050, with a volume of 68,932 shares traded. The stock had previously closed at $79.29.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LMAT. Citizens Jmp assumed coverage on LeMaitre Vascular in a report on Thursday, November 5th. They set a “market outperform” rating and a $110.00 target price on the stock. Weiss Ratings cut LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Wells Fargo & Company cut their price target on LeMaitre Vascular from $94.00 to $86.00 and set an “equal weight” rating for the company in a report on Thursday, November 5th. Seaport Research Partners set a $110.00 price objective on LeMaitre Vascular in a research report on Thursday, November 5th. Finally, Citigroup reissued a “market outperform” rating on shares of LeMaitre Vascular in a research note on Thursday, November 5th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $108.25.

LeMaitre Vascular Stock Performance

The firm has a 50-day moving average price of $81.44 and a 200 day moving average price of $94.03. The firm has a market capitalization of $1.77 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 2.33 and a beta of 0.51. The company has a quick ratio of 12.54, a current ratio of 14.60 and a debt-to-equity ratio of 0.39.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Wednesday, November 4th. The medical instruments supplier reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04). The business had revenue of $67.97 million during the quarter, compared to analysts’ expectations of $67.39 million. LeMaitre Vascular had a net margin of 23.51% and a return on equity of 15.33%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Research analysts expect that LeMaitre Vascular, Inc. will post 2.83 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. LeMaitre Vascular’s dividend payout ratio is currently 36.36%.

Institutional Investors Weigh In On LeMaitre Vascular

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP grew its stake in LeMaitre Vascular by 3.9% during the 3rd quarter. First Trust Advisors LP now owns 1,135,637 shares of the medical instruments supplier’s stock worth $93,792,000 after buying an additional 42,135 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of LeMaitre Vascular during the third quarter worth approximately $49,581,000. Voya Investment Management LLC increased its holdings in shares of LeMaitre Vascular by 1,116.5% in the 3rd quarter. Voya Investment Management LLC now owns 238,914 shares of the medical instruments supplier’s stock valued at $19,732,000 after acquiring an additional 219,274 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of LeMaitre Vascular by 54.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 111,357 shares of the medical instruments supplier’s stock valued at $9,152,000 after acquiring an additional 39,088 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of LeMaitre Vascular by 1.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 159,868 shares of the medical instruments supplier’s stock valued at $13,203,000 after acquiring an additional 2,614 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular develops, manufactures and markets medical devices used primarily in the treatment of vascular disease. Its products support procedures performed by vascular surgeons and include vascular grafts, embolectomy catheters, carotid shunts, valvulotomes and other instruments used in vascular surgery. Founded in 1983 by vascular surgeon George LeMaitre, the company is headquartered in Burlington, Massachusetts. Its products are sold to hospitals and medical professionals around the world through a combination of direct sales and distributors.