LeMaitre Vascular (NASDAQ:LMAT) Announces Quarterly Earnings Results

LeMaitre Vascular (NASDAQ:LMAT) released its earnings results on Thursday. The medical instruments supplier reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05, Briefing.com reports. The firm had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a return on equity of 10.57% and a net margin of 15.56%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. LeMaitre Vascular updated its Q2 guidance to $0.45-0.50 EPS and its FY24 guidance to $1.73-1.84 EPS.

LeMaitre Vascular Price Performance

Shares of NASDAQ:LMAT traded up $7.45 during trading hours on Friday, hitting $74.22. The company’s stock had a trading volume of 329,984 shares, compared to its average volume of 116,703. The firm’s fifty day moving average price is $65.93 and its 200 day moving average price is $58.71. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 55.39, a P/E/G ratio of 2.88 and a beta of 0.88. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $74.64.

LeMaitre Vascular Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.16 per share. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, March 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.86%. LeMaitre Vascular’s dividend payout ratio is presently 47.76%.

Insider Buying and Selling at LeMaitre Vascular

In other LeMaitre Vascular news, CEO George W. Lemaitre sold 27,859 shares of the business’s 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 sale, the chief executive officer now owns 2,255,737 shares of the company’s stock, valued at approximately $157,292,541.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $69.76, for a total value 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 approximately $450,091.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO George W. Lemaitre sold 27,859 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $69.73, for a total transaction of $1,942,608.07. Following the sale, the chief executive officer now directly owns 2,255,737 shares in the company, valued at approximately $157,292,541.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,036 shares of company stock valued at $7,873,749. 10.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LMAT has been the subject of several research reports. Barrington Research boosted their price objective on LeMaitre Vascular from $69.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Stifel Nicolaus upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $75.00 in a research note on Friday, April 26th. JMP Securities boosted their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, KeyCorp started coverage on LeMaitre Vascular in a research report on Tuesday, February 6th. They set a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.83.

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.