LeMaitre Vascular (NASDAQ:LMAT) Reaches New 12-Month High – Here’s What Happened

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $106.99 and last traded at $105.88, with a volume of 116408 shares. The stock had previously closed at $103.44.

Wall Street Analyst Weigh In

LMAT has been the subject of a number of recent research reports. Lake Street Capital started coverage on shares of LeMaitre Vascular in a research report on Friday, August 2nd. They set a “buy” rating and a $105.00 price objective for the company. StockNews.com upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. 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 report on Friday, November 1st. Cantor Fitzgerald began coverage on shares of LeMaitre Vascular in a report on Tuesday, October 15th. They set a “neutral” rating and a $96.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $93.00 price objective (up previously from $90.00) on shares of LeMaitre Vascular in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.57.

LeMaitre Vascular Stock Performance

The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 2.54 and a beta of 0.89. The company’s 50 day simple moving average is $93.13 and its 200 day simple moving average is $86.47.

LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm had revenue of $54.82 million for the quarter, compared to analysts’ expectations of $53.50 million. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 earnings per share. Sell-side analysts predict that LeMaitre Vascular, Inc. will post 1.94 EPS for the current year.

LeMaitre Vascular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, November 21st. LeMaitre Vascular’s payout ratio is currently 34.97%.

Insiders Place Their Bets

In related 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 value of $380,512.50. Following the transaction, the director now directly owns 2,278 shares in the company, valued at $231,148.66. The trade was a 62.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On LeMaitre Vascular

Hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. raised its holdings in LeMaitre Vascular by 73.2% during the 3rd quarter. NBC Securities Inc. now owns 433 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 183 shares during the period. GAMMA Investing LLC lifted its holdings in shares of LeMaitre Vascular by 57.0% in the second quarter. GAMMA Investing LLC now owns 548 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 199 shares in the last quarter. West Oak Capital LLC acquired a new stake in shares of LeMaitre Vascular in the second quarter worth $58,000. USA Financial Formulas purchased a new position in shares of LeMaitre Vascular during the third quarter valued at $60,000. Finally, nVerses Capital LLC raised its position in LeMaitre Vascular by 33.3% during the second quarter. nVerses Capital LLC now owns 800 shares of the medical instruments supplier’s stock valued at $66,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

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.