LeMaitre Vascular (NASDAQ:LMAT) Hits New 52-Week Low – Time to Sell?

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $78.22 and last traded at $78.6090, with a volume of 4254 shares changing hands. The stock had previously closed at $78.87.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup reaffirmed a “market outperform” rating on shares of LeMaitre Vascular in a research report on Tuesday, July 21st. Weiss Ratings lowered shares of LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Wall Street Zen cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Barrington Research downgraded shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.60.

LeMaitre Vascular Trading Down 0.1%

The company has a fifty day simple moving average of $87.60 and a two-hundred day simple moving average of $97.99. The company has a current ratio of 16.31, a quick ratio of 13.96 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.80 billion, a PE ratio of 27.64, a P/E/G ratio of 2.28 and a beta of 0.50.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $0.74 earnings per share (EPS) 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 company had revenue of $70.38 million during the quarter, compared to analyst estimates of $71.47 million. During the same period in the prior year, the business earned $0.60 EPS. LeMaitre Vascular’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts anticipate that LeMaitre Vascular, Inc. will post 2.89 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. LeMaitre Vascular’s payout ratio is presently 35.09%.

Institutional Trading of LeMaitre Vascular

Several institutional investors have recently modified their holdings of LMAT. BlackRock Inc. purchased a new stake in LeMaitre Vascular in the second quarter valued at $314,075,000. Conestoga Capital Advisors LLC grew its holdings in shares of LeMaitre Vascular by 3.6% during the first quarter. Conestoga Capital Advisors LLC now owns 1,476,813 shares of the medical instruments supplier’s stock worth $161,224,000 after purchasing an additional 51,825 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of LeMaitre Vascular by 6.2% during the first quarter. First Trust Advisors LP now owns 998,071 shares of the medical instruments supplier’s stock worth $108,959,000 after purchasing an additional 57,931 shares during the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of LeMaitre Vascular during the second quarter worth about $21,045,000. Finally, Rice Hall James & Associates LLC increased its position in shares of LeMaitre Vascular by 1.3% during the first quarter. Rice Hall James & Associates LLC now owns 184,725 shares of the medical instruments supplier’s stock worth $20,166,000 after purchasing an additional 2,449 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc develops, manufactures and markets medical devices used primarily in the treatment of peripheral vascular disease. Its products are designed for vascular surgeons and other specialists performing procedures on arteries and veins outside the heart and brain.

The company’s portfolio includes biologic and synthetic vascular grafts, thrombectomy catheters, angioplasty balloons, valvulotomes, vascular shunts, vessel-closure devices and other surgical instruments. LeMaitre also offers products used in vessel preparation, plaque removal and the repair or replacement of diseased blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular serves customers in the United States and international markets.