LeMaitre Vascular (NASDAQ:LMAT) Price Target Raised to $79.00

LeMaitre Vascular (NASDAQ:LMAT) had its price target hoisted by Barrington Research from $69.00 to $79.00 in a report released on Friday morning, Benzinga reports. Barrington Research currently has an outperform rating on the medical instruments supplier’s stock.

LMAT has been the topic of several other research reports. StockNews.com cut LeMaitre Vascular from a buy rating to a hold rating in a research note on Tuesday, April 16th. KeyCorp began coverage on LeMaitre Vascular in a research report on Tuesday, February 6th. They issued a sector weight rating on the stock. Finally, Stifel Nicolaus raised shares of LeMaitre Vascular from a hold rating to a buy rating and raised their price target for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, LeMaitre Vascular presently has an average rating of Moderate Buy and an average target price of $73.83.

LeMaitre Vascular Trading Up 1.1 %

LMAT traded up $0.78 during trading on Friday, hitting $75.00. 523,367 shares of the company’s stock were exchanged, compared to its average volume of 121,377. LeMaitre Vascular has a 1 year low of $44.27 and a 1 year high of $76.24. The firm has a market cap of $1.68 billion, a P/E ratio of 50.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.88. The stock has a 50 day moving average price of $65.93 and a 200 day moving average price of $58.85.

LeMaitre Vascular (NASDAQ:LMAT) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The business 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%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. Analysts forecast that LeMaitre Vascular will post 1.77 earnings per share for the current fiscal year.

LeMaitre Vascular Announces Dividend

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 issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.64 annualized dividend and a yield of 0.85%. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 42.38%.

Insider Activity at LeMaitre Vascular

In other news, CEO George W. Lemaitre sold 36,600 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $68.03, for a total value of $2,489,898.00. Following the completion of the sale, the chief executive officer now directly owns 2,187,526 shares in the company, valued at $148,817,393.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO George W. Lemaitre sold 36,600 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $68.03, for a total transaction of $2,489,898.00. Following the completion of the transaction, the chief executive officer now directly owns 2,187,526 shares in the company, valued at $148,817,393.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the completion of the sale, the chief financial officer now owns 6,452 shares in the company, valued at $450,091.52. 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. Corporate insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in shares of LeMaitre Vascular by 24.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 195,983 shares of the medical instruments supplier’s stock valued at $10,677,000 after buying an additional 38,958 shares in the last quarter. Vanguard Group Inc. increased its stake in LeMaitre Vascular by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,510,567 shares of the medical instruments supplier’s stock valued at $82,296,000 after acquiring an additional 33,500 shares during the period. Conestoga Capital Advisors LLC raised its position in LeMaitre Vascular by 0.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,927,971 shares of the medical instruments supplier’s stock worth $109,432,000 after purchasing an additional 10,390 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in LeMaitre Vascular by 52.6% during the third quarter. Johnson Investment Counsel Inc. now owns 32,745 shares of the medical instruments supplier’s stock worth $1,784,000 after purchasing an additional 11,280 shares during the period. Finally, Dark Forest Capital Management LP lifted its stake in LeMaitre Vascular by 152.9% during the third quarter. Dark Forest Capital Management LP now owns 13,857 shares of the medical instruments supplier’s stock worth $755,000 after purchasing an additional 8,378 shares during the period. 84.64% of the stock is owned by institutional investors.

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.