LeMaitre Vascular (NASDAQ:LMAT) Reaches New 12-Month High After Analyst Upgrade

Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) reached a new 52-week high on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $75.99 and last traded at $75.71, with a volume of 62552 shares changing hands. The stock had previously closed at $74.22.

A number of other research analysts have also recently issued reports on LMAT. JMP Securities lifted their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the company a “market outperform” rating in a report on Friday, May 3rd. Barrington Research lifted their price target on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Stifel Nicolaus raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $75.00 in a report on Friday, April 26th. Finally, KeyCorp assumed coverage on LeMaitre Vascular in a report on Tuesday, February 6th. They issued a “sector weight” rating on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.83.

Insider Activity

In other news, CEO George W. Lemaitre sold 27,859 shares of the company’s 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 transaction, the chief executive officer now owns 2,255,737 shares of the company’s stock, valued at $157,292,541.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lawrence J. Jasinski sold 5,110 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total value of $344,925.00. Following the completion of the sale, the director now directly owns 5,309 shares in the company, valued at $358,357.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO George W. Lemaitre sold 27,859 shares of the 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 sale, the chief executive officer now directly owns 2,255,737 shares in the company, valued at approximately $157,292,541.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,036 shares of company stock valued at $7,873,749. 10.79% of the stock is owned by company insiders.

Institutional Trading of LeMaitre Vascular

A number of institutional investors have recently modified their holdings of LMAT. Sei Investments Co. raised its stake in LeMaitre Vascular by 8.9% in the first quarter. Sei Investments Co. now owns 58,071 shares of the medical instruments supplier’s stock valued at $3,854,000 after purchasing an additional 4,731 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of LeMaitre Vascular in the 1st quarter valued at approximately $352,000. Illinois Municipal Retirement Fund lifted its holdings in shares of LeMaitre Vascular by 3.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,690 shares of the medical instruments supplier’s stock worth $776,000 after acquiring an additional 335 shares during the period. Quantbot Technologies LP boosted its position in shares of LeMaitre Vascular by 1,001.4% during the 1st quarter. Quantbot Technologies LP now owns 7,335 shares of the medical instruments supplier’s stock worth $487,000 after acquiring an additional 6,669 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in LeMaitre Vascular during the first quarter valued at approximately $206,000. 84.64% of the stock is currently owned by institutional investors.

LeMaitre Vascular Stock Up 1.2 %

The firm has a 50 day simple moving average of $66.47 and a two-hundred day simple moving average of $59.23. The stock has a market capitalization of $1.70 billion, a P/E ratio of 50.27, a PEG ratio of 2.99 and a beta of 0.88.

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

LeMaitre Vascular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a $0.16 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%. LeMaitre Vascular’s dividend payout ratio is currently 42.38%.

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.