Brokerages Set LeMaitre Vascular Inc (NASDAQ:LMAT) Target Price at $40.00

Shares of LeMaitre Vascular Inc (NASDAQ:LMAT) have earned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.00.

Several equities research analysts have recently commented on the company. ValuEngine cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Lake Street Capital raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday, October 24th. BidaskClub cut LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Barrington Research reissued an “outperform” rating on shares of LeMaitre Vascular in a research note on Tuesday, October 15th. Finally, Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Saturday, October 26th.

Shares of NASDAQ LMAT traded up $0.15 during midday trading on Friday, hitting $34.41. The stock had a trading volume of 6,943 shares, compared to its average volume of 129,470. The company’s 50-day simple moving average is $33.71 and its 200 day simple moving average is $30.82. The firm has a market cap of $687.30 million, a P/E ratio of 40.96, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21. LeMaitre Vascular has a fifty-two week low of $21.79 and a fifty-two week high of $37.35.

LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Wednesday, October 23rd. The medical instruments supplier reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The company had revenue of $29.10 million during the quarter, compared to analysts’ expectations of $28.15 million. LeMaitre Vascular had a return on equity of 13.38% and a net margin of 16.76%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that LeMaitre Vascular will post 0.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be given a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.34 annualized dividend and a dividend yield of 0.99%. LeMaitre Vascular’s dividend payout ratio is currently 40.48%.

In other news, Director David B. Roberts sold 12,202 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.29, for a total value of $430,608.58. Following the transaction, the director now directly owns 35,226 shares in the company, valued at approximately $1,243,125.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George W. Lemaitre sold 16,051 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $33.53, for a total value of $538,190.03. Following the completion of the transaction, the chief executive officer now owns 3,024,394 shares in the company, valued at $101,407,930.82. The disclosure for this sale can be found here. Insiders sold a total of 104,410 shares of company stock worth $3,660,684 over the last 90 days. 19.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of LMAT. Bank of Montreal Can lifted its holdings in LeMaitre Vascular by 137.6% during the second quarter. Bank of Montreal Can now owns 2,675 shares of the medical instruments supplier’s stock worth $75,000 after acquiring an additional 1,549 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in LeMaitre Vascular by 22.3% during the second quarter. JPMorgan Chase & Co. now owns 5,215 shares of the medical instruments supplier’s stock worth $145,000 after acquiring an additional 951 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in LeMaitre Vascular during the third quarter worth about $205,000. State of Tennessee Treasury Department lifted its holdings in LeMaitre Vascular by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 6,731 shares of the medical instruments supplier’s stock worth $230,000 after acquiring an additional 529 shares in the last quarter. Finally, BBT Capital Management LLC bought a new position in LeMaitre Vascular during the second quarter worth about $234,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.

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