LeMaitre Vascular (NASDAQ:LMAT) Downgraded to Hold at StockNews.com

StockNews.com cut shares of LeMaitre Vascular (NASDAQ:LMAT) from a buy rating to a hold rating in a research note published on Tuesday.

LMAT has been the topic of several other reports. KeyCorp assumed coverage on shares of LeMaitre Vascular in a report on Tuesday, February 6th. They issued a sector weight rating on the stock. Barrington Research boosted their price objective on shares of LeMaitre Vascular from $66.00 to $69.00 and gave the company an outperform rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $68.20.

LeMaitre Vascular Stock Performance

LeMaitre Vascular stock opened at $64.12 on Tuesday. The company has a 50 day moving average price of $64.88 and a 200-day moving average price of $57.65. LeMaitre Vascular has a fifty-two week low of $44.27 and a fifty-two week high of $74.64. The company has a market capitalization of $1.43 billion, a PE ratio of 47.85, a P/E/G ratio of 2.79 and a beta of 0.87.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings data on Tuesday, February 27th. The medical instruments supplier reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $48.90 million during the quarter, compared to the consensus estimate of $49.01 million. LeMaitre Vascular had a net margin of 15.56% and a return on equity of 10.57%. LeMaitre Vascular’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, analysts forecast that LeMaitre Vascular will post 1.66 earnings per share for the current year.

LeMaitre Vascular Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. LeMaitre Vascular’s payout ratio is currently 47.76%.

Insider Activity at LeMaitre Vascular

In other LeMaitre Vascular news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 6,452 shares in the company, valued at $450,091.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other LeMaitre Vascular news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 6,452 shares in the company, valued at $450,091.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Roush sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $69.00, for a total transaction of $517,500.00. Following the transaction, the director now owns 2,278 shares of the company’s stock, valued at approximately $157,182. The disclosure for this sale can be found here. Insiders sold 114,036 shares of company stock worth $7,873,749 over the last three months. Company insiders own 12.50% of the company’s stock.

Institutional Trading of LeMaitre Vascular

Several large investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its stake in shares of LeMaitre Vascular by 0.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 23,656 shares of the medical instruments supplier’s stock valued at $1,343,000 after buying an additional 187 shares during the period. Riverwater Partners LLC boosted its position in shares of LeMaitre Vascular by 2.5% during the 4th quarter. Riverwater Partners LLC now owns 8,216 shares of the medical instruments supplier’s stock worth $466,000 after purchasing an additional 198 shares during the period. Legal & General Group Plc boosted its position in shares of LeMaitre Vascular by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 45,769 shares of the medical instruments supplier’s stock worth $2,084,000 after purchasing an additional 200 shares during the period. Cerity Partners LLC purchased a new position in shares of LeMaitre Vascular during the 1st quarter worth approximately $380,000. Finally, Sei Investments Co. boosted its position in shares of LeMaitre Vascular by 0.8% during the 4th quarter. Sei Investments Co. now owns 30,471 shares of the medical instruments supplier’s stock worth $1,402,000 after purchasing an additional 248 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.

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.