LeMaitre Vascular (NASDAQ:LMAT) Posts Earnings Results, Beats Estimates By $0.05 EPS

LeMaitre Vascular (NASDAQ:LMAT) announced its quarterly earnings results on Thursday. The medical instruments supplier reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05, Briefing.com reports. The company had revenue of $53.48 million during the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a return on equity of 11.75% and a net margin of 16.99%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. LeMaitre Vascular updated its Q2 guidance to $0.45-0.50 EPS and its FY24 guidance to $1.73-1.84 EPS.

LeMaitre Vascular Stock Up 11.2 %

Shares of LeMaitre Vascular stock traded up $7.45 during trading on Friday, reaching $74.22. The company’s stock had a trading volume of 329,984 shares, compared to its average volume of 110,751. LeMaitre Vascular has a 52-week low of $44.27 and a 52-week high of $74.64. The firm’s 50-day moving average is $65.93 and its two-hundred day moving average is $58.71. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 2.88 and a beta of 0.88.

LeMaitre Vascular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, May 15th. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 42.38%.

Insider Buying and Selling

In other news, Director Lawrence J. Jasinski sold 5,110 shares of the business’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 completion of the sale, the director now owns 5,309 shares of the company’s stock, valued at approximately $358,357.50. The transaction was disclosed in a 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 firm’s stock in a transaction 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 sale, the chief financial officer now owns 6,452 shares of the company’s stock, valued at approximately $450,091.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence J. Jasinski sold 5,110 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total transaction of $344,925.00. Following the transaction, the director now directly owns 5,309 shares of the company’s stock, valued at $358,357.50. The disclosure for this sale can be found here. Insiders have sold a total of 114,036 shares of company stock worth $7,873,749 in the last 90 days. 10.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. KeyCorp initiated coverage on shares of LeMaitre Vascular in a research note on Tuesday, February 6th. They set a “sector weight” rating for the company. Stifel Nicolaus upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. JMP Securities lifted their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the company a “market outperform” rating in a research note on Friday. Barrington Research upped their target price on LeMaitre Vascular from $69.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, StockNews.com upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.83.

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.