LeMaitre Vascular (NASDAQ:LMAT) Raised to “Buy” at Stifel Nicolaus

LeMaitre Vascular (NASDAQ:LMAT) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has a $75.00 target price on the medical instruments supplier’s stock, up from their prior target price of $59.00. Stifel Nicolaus’ target price would indicate a potential upside of 14.57% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Barrington Research raised their target price on shares of LeMaitre Vascular from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, KeyCorp initiated coverage on shares of LeMaitre Vascular in a report on Tuesday, February 6th. They set a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, LeMaitre Vascular has an average rating of “Moderate Buy” and a consensus price target of $69.33.

LeMaitre Vascular Trading Up 3.9 %

NASDAQ LMAT opened at $65.46 on Friday. The company has a fifty day simple moving average of $65.35 and a two-hundred day simple moving average of $58.11. The stock has a market cap of $1.47 billion, a P/E ratio of 48.85, a P/E/G ratio of 2.82 and a beta of 0.87. LeMaitre Vascular has a 12-month low of $44.27 and a 12-month high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. LeMaitre Vascular had a net margin of 15.56% and a return on equity of 10.57%. The firm had revenue of $48.90 million during the quarter, compared to analysts’ expectations of $49.01 million. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts forecast that LeMaitre Vascular will post 1.66 earnings per share for the current year.

Insider Activity at LeMaitre Vascular

In related news, Director Lawrence J. Jasinski sold 5,110 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total transaction of $344,925.00. Following the sale, the director now owns 5,309 shares in the company, valued at $358,357.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Lawrence J. Jasinski sold 5,110 shares of LeMaitre Vascular stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total value of $344,925.00. Following the sale, the director now owns 5,309 shares in the company, valued at $358,357.50. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $68.03, for a total transaction of $2,489,898.00. Following the completion of the sale, the chief executive officer now owns 2,187,526 shares in the company, valued at approximately $148,817,393.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,036 shares of company stock worth $7,873,749. 10.79% of the stock is owned by company insiders.

Institutional Trading of LeMaitre Vascular

Several institutional investors have recently modified their holdings of the stock. Conestoga Capital Advisors LLC grew its position in shares of LeMaitre Vascular by 0.3% in the first quarter. Conestoga Capital Advisors LLC now owns 1,932,917 shares of the medical instruments supplier’s stock valued at $128,268,000 after purchasing an additional 4,946 shares during the period. Vanguard Group Inc. boosted its position in LeMaitre Vascular by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 1,548,870 shares of the medical instruments supplier’s stock worth $87,914,000 after acquiring an additional 38,303 shares during the last quarter. Copeland Capital Management LLC boosted its position in LeMaitre Vascular by 2.3% during the fourth quarter. Copeland Capital Management LLC now owns 1,259,961 shares of the medical instruments supplier’s stock worth $71,515,000 after acquiring an additional 28,720 shares during the last quarter. Ranger Investment Management L.P. boosted its position in LeMaitre Vascular by 1.5% during the fourth quarter. Ranger Investment Management L.P. now owns 912,503 shares of the medical instruments supplier’s stock worth $51,794,000 after acquiring an additional 13,681 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its position in LeMaitre Vascular by 12.0% during the first quarter. Congress Asset Management Co. MA now owns 666,083 shares of the medical instruments supplier’s stock worth $44,201,000 after acquiring an additional 71,411 shares during the last quarter. Institutional investors and hedge funds own 84.64% 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.