LeMaitre Vascular (NASDAQ:LMAT) Releases FY 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.730-1.840 for the period, compared to the consensus earnings per share estimate of 1.650. The company issued revenue guidance of $212.7 million-$217.3 million, compared to the consensus revenue estimate of $211.7 million. LeMaitre Vascular also updated its Q2 2024 guidance to 0.450-0.500 EPS.

LeMaitre Vascular Price Performance

LMAT stock opened at $74.22 on Monday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 2.99 and a beta of 0.88. LeMaitre Vascular has a 1-year low of $44.27 and a 1-year high of $74.64. The firm has a fifty day moving average price of $65.93 and a two-hundred day moving average price of $58.85.

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 analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.57%. LeMaitre Vascular’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. As a group, analysts expect that LeMaitre Vascular will post 1.77 EPS for the current fiscal year.

LeMaitre Vascular Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LMAT. Stifel Nicolaus raised LeMaitre Vascular from a hold rating to a buy rating and raised their price target for the company from $59.00 to $75.00 in a report on Friday, April 26th. KeyCorp initiated coverage on shares of LeMaitre Vascular in a 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 research report on Friday. JMP Securities increased their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the stock a market outperform rating in a report on Friday. Finally, 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 research report on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $73.83.

Insiders Place Their Bets

In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $69.00, for a total transaction of $517,500.00. Following the transaction, the director now owns 2,278 shares of the company’s stock, valued at approximately $157,182. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 shares were sold at an average price of $69.73, for a total transaction of $1,942,608.07. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link. Also, Director John A. Roush sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the completion of the transaction, the director now owns 2,278 shares in the company, valued at $157,182. The disclosure for this sale can be found here. Insiders sold 114,036 shares of company stock worth $7,873,749 over the last three months. 10.79% of the stock is currently owned by corporate insiders.

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.