LeMaitre Vascular (NASDAQ:LMAT) Cut to “Market Perform” at Barrington Research

Barrington Research cut shares of LeMaitre Vascular (NASDAQ:LMAT) from an outperform rating to a market perform rating in a research report released on Wednesday, Marketbeat.com reports.

LMAT has been the topic of a number of other research reports. Weiss Ratings cut LeMaitre Vascular from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Wells Fargo & Company lifted their target price on LeMaitre Vascular from $94.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Citigroup reiterated a “market outperform” rating on shares of LeMaitre Vascular in a research report on Tuesday, July 21st. Zacks Research downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Citizens Jmp raised their price objective on shares of LeMaitre Vascular from $118.00 to $127.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $110.60.

LeMaitre Vascular Stock Performance

Shares of LMAT stock opened at $81.45 on Wednesday. The firm’s 50 day moving average is $96.54 and its 200 day moving average is $99.81. The stock has a market capitalization of $1.86 billion, a P/E ratio of 28.58, a PEG ratio of 2.33 and a beta of 0.53. LeMaitre Vascular has a 12 month low of $78.65 and a 12 month high of $118.01. The company has a current ratio of 16.31, a quick ratio of 12.20 and a debt-to-equity ratio of 0.40.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.07). LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The business had revenue of $70.38 million during the quarter, compared to analysts’ expectations of $71.47 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that LeMaitre Vascular will post 2.89 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

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

Institutional Investors Weigh In On LeMaitre Vascular

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its stake in shares of LeMaitre Vascular by 1.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 11,171 shares of the medical instruments supplier’s stock worth $906,000 after buying an additional 123 shares during the period. NewEdge Advisors LLC grew its stake in shares of LeMaitre Vascular by 4.6% during the 4th quarter. NewEdge Advisors LLC now owns 3,158 shares of the medical instruments supplier’s stock valued at $256,000 after acquiring an additional 139 shares during the period. State of Alaska Department of Revenue increased its holdings in LeMaitre Vascular by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 11,986 shares of the medical instruments supplier’s stock worth $971,000 after acquiring an additional 147 shares in the last quarter. Federated Hermes Inc. raised its stake in LeMaitre Vascular by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 39,659 shares of the medical instruments supplier’s stock worth $3,294,000 after acquiring an additional 155 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in LeMaitre Vascular by 5.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,259 shares of the medical instruments supplier’s stock worth $356,000 after acquiring an additional 169 shares during the period. 84.64% of the stock is currently owned by institutional investors.

Key Stories 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

About LeMaitre Vascular

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.