LeMaitre Vascular (LMAT) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. They currently have $32.00 price objective on the medical instruments supplier’s stock.

According to Zacks, “LeMaitre Vascular, Inc. is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects the people worldwide. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre’s diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time. “

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of LeMaitre Vascular from a hold rating to a sell rating in a research report on Thursday. BidaskClub cut shares of LeMaitre Vascular from a hold rating to a sell rating in a research report on Tuesday, April 16th. Lake Street Capital boosted their price target on shares of LeMaitre Vascular to $27.00 and gave the company a hold rating in a research report on Wednesday, February 20th. Finally, Roth Capital reissued a neutral rating on shares of LeMaitre Vascular in a research report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. LeMaitre Vascular currently has an average rating of Hold and an average price target of $33.29.

Shares of LMAT opened at $27.24 on Thursday. LeMaitre Vascular has a 1-year low of $21.79 and a 1-year high of $41.28. The firm has a market capitalization of $535.84 million, a P/E ratio of 32.43, a P/E/G ratio of 2.71 and a beta of 1.15.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Tuesday, February 19th. The medical instruments supplier reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. LeMaitre Vascular had a net margin of 21.73% and a return on equity of 17.71%. The firm had revenue of $28.39 million during the quarter, compared to analysts’ expectations of $26.06 million. As a group, equities analysts predict that LeMaitre Vascular will post 0.84 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were given a $0.085 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This is a boost from LeMaitre Vascular’s previous quarterly dividend of $0.07. This represents a $0.34 dividend on an annualized basis and a yield of 1.25%. LeMaitre Vascular’s payout ratio is 40.48%.

In other news, insider Trent G. Kamke sold 16,604 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $29.63, for a total value of $491,976.52. Following the completion of the sale, the insider now directly owns 19,857 shares of the company’s stock, valued at $588,362.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.30% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in LMAT. JPMorgan Chase & Co. raised its holdings in shares of LeMaitre Vascular by 35.4% in the third quarter. JPMorgan Chase & Co. now owns 15,376 shares of the medical instruments supplier’s stock valued at $595,000 after buying an additional 4,020 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of LeMaitre Vascular by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 253,149 shares of the medical instruments supplier’s stock valued at $9,807,000 after buying an additional 6,705 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of LeMaitre Vascular by 4.6% in the third quarter. Martingale Asset Management L P now owns 58,706 shares of the medical instruments supplier’s stock valued at $2,275,000 after buying an additional 2,600 shares during the last quarter. BlackRock Inc. raised its holdings in shares of LeMaitre Vascular by 4.9% in the third quarter. BlackRock Inc. now owns 2,545,148 shares of the medical instruments supplier’s stock valued at $98,599,000 after buying an additional 119,694 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of LeMaitre Vascular by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,020,116 shares of the medical instruments supplier’s stock valued at $39,519,000 after buying an additional 14,038 shares during the last quarter. 76.52% of the stock is owned by institutional investors and hedge funds.

About LeMaitre Vascular

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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