LeMaitre Vascular (NASDAQ:LMAT) Issues Q2 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.450-0.500 for the period, compared to the consensus earnings per share estimate of 0.440. The company issued revenue guidance of $53.7 million-$56.1 million, compared to the consensus revenue estimate of $54.3 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.730-1.840 EPS.

LeMaitre Vascular Stock Up 11.2 %

Shares of NASDAQ LMAT opened at $74.22 on Monday. The business has a 50-day simple moving average of $65.93 and a two-hundred day simple moving average of $58.85. The company has a market cap of $1.67 billion, a P/E ratio of 49.15, a P/E/G ratio of 2.99 and a beta of 0.88. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. LeMaitre Vascular had a return on equity of 11.57% and a net margin of 16.99%. The business had revenue of $53.48 million during the quarter, compared to analyst estimates of $51.50 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. LeMaitre Vascular’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts anticipate that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, May 15th. LeMaitre Vascular’s payout ratio is currently 42.38%.

Analyst Upgrades and Downgrades

LMAT has been the subject of several analyst reports. JMP Securities raised their price target on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a research report on Friday. Stifel Nicolaus upgraded LeMaitre Vascular from a hold rating to a buy rating and lifted their price objective for the stock from $59.00 to $75.00 in a report on Friday, April 26th. KeyCorp started coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They issued a sector weight rating for the company. StockNews.com raised LeMaitre Vascular from a hold rating to a buy rating in a report on Friday. Finally, Barrington Research increased their target price on LeMaitre Vascular from $69.00 to $79.00 and gave the company an outperform rating in a report on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $73.83.

Insider Activity

In other news, CEO George W. Lemaitre sold 36,600 shares of LeMaitre Vascular stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $68.03, for a total transaction of $2,489,898.00. Following the sale, the chief executive officer now owns 2,187,526 shares in the company, valued at $148,817,393.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO George W. Lemaitre sold 27,859 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $69.73, for a total value of $1,942,608.07. Following the completion of the transaction, the chief executive officer now owns 2,255,737 shares in the company, valued at approximately $157,292,541.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George W. Lemaitre sold 36,600 shares of LeMaitre Vascular stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $68.03, for a total transaction of $2,489,898.00. Following the transaction, the chief executive officer now directly owns 2,187,526 shares of the company’s stock, valued at $148,817,393.78. The disclosure for this sale can be found here. Insiders have sold 114,036 shares of company stock worth $7,873,749 over the last ninety days. Corporate insiders own 10.79% of the company’s stock.

About LeMaitre Vascular

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.