LeMaitre Vascular (NASDAQ:LMAT) Shares Down 10.5% – Here’s What Happened

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s share price fell 10.5% during mid-day trading on Monday . The company traded as low as $71.42 and last traded at $71.42. 32,215 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 156,053 shares. The stock had previously closed at $79.78.

Analyst Ratings Changes

LMAT has been the subject of a number of research reports. Lake Street Capital lifted their price target on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 28th. StockNews.com downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Oppenheimer lowered LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Barrington Research downgraded LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company assumed coverage on shares of LeMaitre Vascular in a research note on Thursday, February 13th. They issued an “equal weight” rating and a $95.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.25.

LeMaitre Vascular Trading Down 0.5 %

The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 2.22 and a beta of 0.89. The company’s 50 day simple moving average is $91.62 and its 200-day simple moving average is $94.22.

LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Thursday, February 27th. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $55.81 million for the quarter, compared to analyst estimates of $55.99 million. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. Sell-side analysts anticipate that LeMaitre Vascular, Inc. will post 1.94 EPS for the current year.

LeMaitre Vascular Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.16. LeMaitre Vascular’s payout ratio is currently 41.24%.

Insider Buying and Selling

In other LeMaitre Vascular news, insider Trent G. Kamke sold 2,009 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.12, for a total transaction of $164,979.08. Following the transaction, the insider now owns 5,564 shares of the company’s stock, valued at $456,915.68. This trade represents a 26.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.79% of the stock is currently owned by company insiders.

Institutional Trading of LeMaitre Vascular

A number of institutional investors and hedge funds have recently made changes to their positions in LMAT. Allspring Global Investments Holdings LLC grew its position in LeMaitre Vascular by 48.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,321 shares of the medical instruments supplier’s stock valued at $1,227,000 after acquiring an additional 4,330 shares during the period. Barclays PLC raised its position in LeMaitre Vascular by 394.5% in the third quarter. Barclays PLC now owns 36,577 shares of the medical instruments supplier’s stock valued at $3,396,000 after purchasing an additional 29,180 shares during the period. Compass Planning Associates Inc acquired a new position in LeMaitre Vascular during the 4th quarter worth approximately $567,000. Charles Schwab Investment Management Inc. boosted its stake in shares of LeMaitre Vascular by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 191,511 shares of the medical instruments supplier’s stock valued at $17,789,000 after purchasing an additional 11,395 shares during the period. Finally, Congress Asset Management Co. boosted its position in LeMaitre Vascular by 1.8% in the 4th quarter. Congress Asset Management Co. now owns 722,325 shares of the medical instruments supplier’s stock valued at $66,555,000 after buying an additional 13,009 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.

LeMaitre Vascular Company Profile

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.