JMP Securities Boosts LeMaitre Vascular (NASDAQ:LMAT) Price Target to $77.00

LeMaitre Vascular (NASDAQ:LMAT) had its target price lifted by JMP Securities from $72.00 to $77.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a market outperform rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently issued reports on LMAT. KeyCorp initiated coverage on shares of LeMaitre Vascular in a research note on Tuesday, February 6th. They issued a sector weight rating on the stock. Stifel Nicolaus upgraded shares of LeMaitre Vascular from a hold rating to a buy rating and boosted their price objective for the stock from $59.00 to $75.00 in a report on Friday, April 26th. StockNews.com cut shares of LeMaitre Vascular from a buy rating to a hold rating in a research note on Tuesday, April 16th. Finally, Barrington Research boosted their price target on LeMaitre Vascular from $69.00 to $79.00 and gave the company an outperform rating in a research note on Friday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, LeMaitre Vascular has an average rating of Moderate Buy and an average price target of $73.83.

LeMaitre Vascular Trading Up 11.2 %

NASDAQ LMAT opened at $74.22 on Friday. LeMaitre Vascular has a 1 year low of $44.27 and a 1 year high of $74.64. The company has a fifty day simple moving average of $65.93 and a 200 day simple moving average of $58.85. The company has a market cap of $1.67 billion, a P/E ratio of 49.15, a P/E/G ratio of 3.20 and a beta of 0.88.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. LeMaitre Vascular had a return on equity of 11.75% and a net margin of 16.99%. The company had revenue of $53.48 million for the quarter, compared to the consensus estimate of $51.50 million. During the same period last year, the business posted $0.27 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts forecast that LeMaitre Vascular will post 1.77 EPS for the current fiscal year.

LeMaitre Vascular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.86%. LeMaitre Vascular’s payout ratio is 42.38%.

Insider Activity

In related news, Director Lawrence J. Jasinski sold 5,110 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total value of $344,925.00. Following the completion of the transaction, the director now owns 5,309 shares in the company, valued at approximately $358,357.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lawrence J. Jasinski sold 5,110 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total value of $344,925.00. Following the transaction, the director now owns 5,309 shares in the company, valued at $358,357.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $1,942,608.07. Following the sale, the chief executive officer now directly owns 2,255,737 shares of the company’s stock, valued at $157,292,541.01. The disclosure for this sale can be found here. Insiders have sold 114,036 shares of company stock valued at $7,873,749 over the last three months. 10.79% of the stock is owned by insiders.

Hedge Funds Weigh In On LeMaitre Vascular

A number of hedge funds and other institutional investors have recently bought and sold shares of LMAT. BluePath Capital Management LLC bought a new position in shares of LeMaitre Vascular in the 3rd quarter worth $31,000. YHB Investment Advisors Inc. bought a new position in LeMaitre Vascular during the first quarter worth about $36,000. DekaBank Deutsche Girozentrale acquired a new position in shares of LeMaitre Vascular during the 3rd quarter worth about $38,000. SRS Capital Advisors Inc. increased its stake in shares of LeMaitre Vascular by 325.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 685 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 524 shares during the last quarter. Finally, Whitegate Investment Counselors Inc. acquired a new stake in shares of LeMaitre Vascular in the 1st quarter valued at approximately $216,000. 84.64% of the stock is owned by institutional investors.

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.