LeMaitre Vascular (NASDAQ:LMAT) Downgraded by StockNews.com to Hold

StockNews.com cut shares of LeMaitre Vascular (NASDAQ:LMAT) from a buy rating to a hold rating in a research note published on Friday.

LMAT has been the subject of several other research reports. Cantor Fitzgerald initiated coverage on shares of LeMaitre Vascular in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 target price for the company. Oppenheimer restated an “outperform” rating and issued a $93.00 price objective (up previously from $90.00) on shares of LeMaitre Vascular in a research report on Friday, November 1st. JMP Securities boosted their target price on LeMaitre Vascular from $77.00 to $100.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 20th. Finally, Barrington Research increased their target price on LeMaitre Vascular from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, LeMaitre Vascular presently has an average rating of “Moderate Buy” and a consensus price target of $94.57.

LeMaitre Vascular Stock Up 0.4 %

NASDAQ LMAT opened at $100.69 on Friday. The business’s 50-day moving average price is $97.47 and its 200 day moving average price is $89.33. The firm has a market cap of $2.26 billion, a P/E ratio of 55.02, a P/E/G ratio of 2.47 and a beta of 0.93. LeMaitre Vascular has a 52-week low of $52.88 and a 52-week high of $109.58.

LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. The company had revenue of $54.82 million for the quarter, compared to the consensus estimate of $53.50 million. During the same period last year, the business posted $0.33 EPS. The company’s revenue was up 15.6% on a year-over-year basis. As a group, analysts anticipate that LeMaitre Vascular will post 1.94 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.64%. LeMaitre Vascular’s payout ratio is 34.97%.

Insider Transactions at LeMaitre Vascular

In other news, Director Bridget A. Ross sold 3,750 shares of LeMaitre Vascular stock in a transaction on Friday, November 15th. The stock was sold at an average price of $101.47, for a total transaction of $380,512.50. Following the completion of the transaction, the director now owns 2,278 shares of the company’s stock, valued at $231,148.66. The trade was a 62.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.79% of the company’s stock.

Institutional Investors Weigh In On LeMaitre Vascular

A number of large investors have recently added to or reduced their stakes in LMAT. Conestoga Capital Advisors LLC lifted its holdings in shares of LeMaitre Vascular by 1.9% in the third quarter. Conestoga Capital Advisors LLC now owns 1,978,351 shares of the medical instruments supplier’s stock valued at $183,769,000 after purchasing an additional 36,850 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of LeMaitre Vascular by 1.0% during the 3rd quarter. Copeland Capital Management LLC now owns 1,163,392 shares of the medical instruments supplier’s stock worth $108,068,000 after purchasing an additional 11,318 shares during the last quarter. State Street Corp lifted its stake in LeMaitre Vascular by 3.6% in the 3rd quarter. State Street Corp now owns 822,085 shares of the medical instruments supplier’s stock valued at $76,363,000 after buying an additional 28,525 shares in the last quarter. Congress Asset Management Co. lifted its stake in LeMaitre Vascular by 2.6% in the 3rd quarter. Congress Asset Management Co. now owns 709,316 shares of the medical instruments supplier’s stock valued at $65,888,000 after buying an additional 18,295 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in LeMaitre Vascular by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 542,523 shares of the medical instruments supplier’s stock valued at $50,403,000 after buying an additional 23,443 shares during the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.

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.