LeMaitre Vascular (NASDAQ:LMAT) Given New $79.00 Price Target at Barrington Research

LeMaitre Vascular (NASDAQ:LMAT) had its target price upped by Barrington Research from $69.00 to $79.00 in a research note released on Friday morning, Benzinga reports. Barrington Research currently has an outperform rating on the medical instruments supplier’s stock.

Several other analysts have also issued reports on the company. Stifel Nicolaus upgraded LeMaitre Vascular from a hold rating to a buy rating and upped their price objective for the company from $59.00 to $75.00 in a research note on Friday, April 26th. KeyCorp began coverage on LeMaitre Vascular in a report on Tuesday, February 6th. They set a sector weight rating for the company. Finally, StockNews.com lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $73.83.

LeMaitre Vascular Stock Up 1.1 %

Shares of LeMaitre Vascular stock opened at $75.00 on Friday. LeMaitre Vascular has a 12-month low of $44.27 and a 12-month high of $76.24. The business’s 50 day moving average is $66.19 and its 200-day moving average is $59.04. The stock has a market cap of $1.68 billion, a P/E ratio of 49.67, a P/E/G ratio of 2.99 and a beta of 0.88.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $53.48 million during the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.57%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share. On average, sell-side analysts expect that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Wednesday, May 15th. LeMaitre Vascular’s dividend payout ratio is 42.38%.

Insider Buying and Selling at LeMaitre Vascular

In other news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of LeMaitre Vascular stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 6,452 shares in the company, valued at $450,091.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $69.76, for a total value of $2,578,817.92. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the director now directly 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 valued at $7,873,749 in the last quarter. Company insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LMAT. Envestnet Asset Management Inc. increased its stake in shares of LeMaitre Vascular by 24.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 195,983 shares of the medical instruments supplier’s stock valued at $10,677,000 after purchasing an additional 38,958 shares during the last quarter. Vanguard Group Inc. grew its position in LeMaitre Vascular by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,510,567 shares of the medical instruments supplier’s stock valued at $82,296,000 after acquiring an additional 33,500 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in LeMaitre Vascular by 0.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,927,971 shares of the medical instruments supplier’s stock worth $109,432,000 after acquiring an additional 10,390 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of LeMaitre Vascular by 52.6% in the third quarter. Johnson Investment Counsel Inc. now owns 32,745 shares of the medical instruments supplier’s stock worth $1,784,000 after acquiring an additional 11,280 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in shares of LeMaitre Vascular by 152.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 13,857 shares of the medical instruments supplier’s stock valued at $755,000 after purchasing an additional 8,378 shares in the last quarter. 84.64% of the stock is owned by institutional investors.

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.