LeMaitre Vascular, Inc. (NASDAQ:LMAT) to Issue $0.16 Quarterly Dividend

LeMaitre Vascular, Inc. (NASDAQ:LMAT) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.16 per share by the medical instruments supplier on Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, August 15th.

LeMaitre Vascular has increased its dividend by an average of 13.8% annually over the last three years and has increased its dividend every year for the last 13 years. LeMaitre Vascular has a dividend payout ratio of 32.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LeMaitre Vascular to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 32.5%.

LeMaitre Vascular Trading Down 1.4 %

LMAT traded down $1.24 on Friday, reaching $85.01. The stock had a trading volume of 348,354 shares, compared to its average volume of 157,693. LeMaitre Vascular has a 12-month low of $44.27 and a 12-month high of $91.76. The business’s 50-day moving average price is $82.69 and its two-hundred day moving average price is $71.68. The company has a market cap of $1.91 billion, a P/E ratio of 56.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89.

LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. LeMaitre Vascular had a net margin of 18.33% and a return on equity of 12.63%. The business had revenue of $55.85 million for the quarter, compared to analyst estimates of $54.98 million. During the same quarter last year, the business earned $0.37 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts predict that LeMaitre Vascular will post 1.77 earnings per share for the current year.

Insider Activity

In other news, CEO George W. Lemaitre sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $75.30, for a total value of $602,400.00. Following the sale, the chief executive officer now directly owns 2,079,128 shares of the company’s stock, valued at approximately $156,558,338.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO George W. Lemaitre sold 68,906 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.70, for a total value of $5,216,184.20. Following the sale, the chief executive officer now directly owns 2,133,428 shares of the company’s stock, valued at approximately $161,500,499.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George W. Lemaitre sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $75.30, for a total transaction of $602,400.00. Following the sale, the chief executive officer now directly owns 2,079,128 shares in the company, valued at $156,558,338.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,437 shares of company stock valued at $10,076,242. Company insiders own 10.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and issued a $100.00 target price on shares of LeMaitre Vascular in a research report on Friday, May 31st. JMP Securities boosted their price target on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Friday, May 3rd. Stifel Nicolaus upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. Barrington Research boosted their price target on shares of LeMaitre Vascular from $79.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Roth Capital upgraded shares of LeMaitre Vascular to a “strong-buy” rating in a research report on Friday, May 31st. 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 has an average rating of “Moderate Buy” and a consensus price target of $83.71.

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.