Canaccord Genuity reaffirmed their hold rating on shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) in a research report sent to investors on Monday. They currently have a $30.00 price target on the medical instruments supplier’s stock.
Several other research firms have also issued reports on LMAT. Zacks Investment Research lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a research note on Thursday, September 28th. BidaskClub lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a research note on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a buy rating and issued a $32.00 price objective (up previously from $29.00) on shares of LeMaitre Vascular in a research note on Sunday, July 30th. Finally, Benchmark Co. raised shares of LeMaitre Vascular from a hold rating to a buy rating in a research report on Friday, July 28th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. LeMaitre Vascular has a consensus rating of Hold and an average target price of $32.00.
LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The firm had revenue of $25.80 million for the quarter, compared to analyst estimates of $25.42 million. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share.
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LeMaitre Vascular announced that its board has initiated a share repurchase program on Thursday, July 27th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the medical instruments supplier to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In related news, insider Peter R. Gebauer sold 22,067 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $34.28, for a total transaction of $756,456.76. Following the sale, the insider now directly owns 4,486 shares of the company’s stock, valued at approximately $153,780.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David B. Roberts sold 26,683 shares of LeMaitre Vascular stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $36.67, for a total transaction of $978,465.61. Following the sale, the insider now directly owns 48,108 shares in the company, valued at $1,764,120.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,121 shares of company stock valued at $12,825,992. 23.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. increased its stake in LeMaitre Vascular by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,947 shares of the medical instruments supplier’s stock valued at $654,000 after purchasing an additional 54 shares in the last quarter. Albion Financial Group UT grew its stake in shares of LeMaitre Vascular by 1.1% in the 2nd quarter. Albion Financial Group UT now owns 9,461 shares of the medical instruments supplier’s stock worth $295,000 after acquiring an additional 105 shares in the last quarter. Bank of America Corp DE grew its stake in shares of LeMaitre Vascular by 0.3% in the 1st quarter. Bank of America Corp DE now owns 193,651 shares of the medical instruments supplier’s stock worth $4,770,000 after acquiring an additional 536 shares in the last quarter. American International Group Inc. grew its stake in shares of LeMaitre Vascular by 7.0% in the 1st quarter. American International Group Inc. now owns 8,310 shares of the medical instruments supplier’s stock worth $205,000 after acquiring an additional 545 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of LeMaitre Vascular by 6.9% in the 1st quarter. Blair William & Co. IL now owns 11,977 shares of the medical instruments supplier’s stock worth $295,000 after acquiring an additional 768 shares in the last quarter. 66.34% of the stock is currently owned by hedge funds and other institutional investors.
About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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