LeMaitre Vascular (NASDAQ:LMAT) Sets New 52-Week Low After Analyst Downgrade

LeMaitre Vascular, Inc. (NASDAQ:LMAT) reached a new 52-week low during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $104.00 to $94.00. Wells Fargo & Company currently has an equal weight rating on the stock. LeMaitre Vascular traded as low as $78.65 and last traded at $79.00, with a volume of 2183950 shares changing hands. The stock had previously closed at $105.78.

A number of other equities analysts have also commented on LMAT. Barrington Research lowered shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Wall Street Zen downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citizens Jmp upped their price target on shares of LeMaitre Vascular from $118.00 to $127.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Zacks Research lowered LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Citigroup restated a “market outperform” rating on shares of LeMaitre Vascular in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, LeMaitre Vascular presently has an average rating of “Hold” and an average price target of $110.60.

Key Headlines Impacting LeMaitre Vascular

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

• Positive Sentiment: International sales growth and underlying demand were key positives in the second-quarter review. Revenue increased 9.6% year over year to $70.38 million, although growth was constrained by supply issues. LMAT Q2 Deep Dive: International Growth and Supply Constraints Shape Results
• Neutral Sentiment: LeMaitre will hold investor meetings at the Needham Virtual MedTech & Diagnostics 1×1 Conference on August 11. The event could provide management an opportunity to discuss international expansion, supply availability and its outlook, but no new financial guidance was announced. LeMaitre to Participate in the 11th Annual Needham Virtual MedTech & Diagnostics 1×1 Conference
• Neutral Sentiment: Wells Fargo maintained its Hold rating, signaling limited near-term conviction and a cautious outlook rather than a fresh bullish catalyst. Wells Fargo Sticks to Its Hold Rating for LeMaitre Vascular
• Negative Sentiment: Second-quarter adjusted earnings were $0.74 per share, below the $0.81 consensus estimate, while revenue of $70.38 million missed expectations of $71.47 million. The shortfall triggered a sharp decline and a gap lower in the shares. LeMaitre misses Q2 revenue estimates
• Negative Sentiment: Barrington Research downgraded LMAT to Market Perform, adding to concerns that the stock’s valuation and near-term growth prospects may be less attractive. Barrington Research Downgrades LeMaitre Vascular
• Negative Sentiment: The shares reached a new 12-month low following analyst caution and the earnings disappointment, reinforcing the negative market reaction. LeMaitre Vascular Hits New 12-Month Low

Institutional Investors Weigh In On LeMaitre Vascular

A number of hedge funds and other institutional investors have recently modified their holdings of LMAT. Illinois Municipal Retirement Fund grew its stake in shares of LeMaitre Vascular by 1.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 11,171 shares of the medical instruments supplier’s stock valued at $906,000 after acquiring an additional 123 shares during the period. NewEdge Advisors LLC raised its stake in LeMaitre Vascular by 4.6% during the 4th quarter. NewEdge Advisors LLC now owns 3,158 shares of the medical instruments supplier’s stock worth $256,000 after acquiring an additional 139 shares during the period. State of Alaska Department of Revenue lifted its holdings in LeMaitre Vascular by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 11,986 shares of the medical instruments supplier’s stock valued at $971,000 after purchasing an additional 147 shares in the last quarter. Federated Hermes Inc. lifted its holdings in LeMaitre Vascular by 0.4% during the second quarter. Federated Hermes Inc. now owns 39,659 shares of the medical instruments supplier’s stock valued at $3,294,000 after purchasing an additional 155 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of LeMaitre Vascular by 5.5% in the first quarter. Pictet Asset Management Holding SA now owns 3,259 shares of the medical instruments supplier’s stock worth $356,000 after purchasing an additional 169 shares during the period. Institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Trading Up 0.8%

The stock’s 50-day simple moving average is $96.54 and its two-hundred day simple moving average is $99.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 16.31 and a quick ratio of 12.20. The firm has a market capitalization of $1.86 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.33 and a beta of 0.53.

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

LeMaitre Vascular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 35.09%.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc is a specialty medical device company focused on the development, manufacture and marketing of products for the treatment of peripheral vascular disease. Headquartered in Burlington, Massachusetts, the company’s offerings include a broad portfolio of vascular surgical instruments, grafts, patches, catheters and embolic protection devices. LeMaitre’s product lines address key areas such as arterial reconstruction, endovascular repair and vascular access, serving the needs of cardiovascular surgeons and interventional specialists.

Founded in 1983 by George D.