LeMaitre Vascular (NASDAQ:LMAT) Updates FY 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.820-1.910 for the period, compared to the consensus EPS estimate of 1.770. The company issued revenue guidance of $216.8 million-$220.8 million, compared to the consensus revenue estimate of $215.1 million. LeMaitre Vascular also updated its Q3 guidance to $0.42 to $0.46 EPS.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LMAT shares. Roth Mkm restated a buy rating and issued a $100.00 target price on shares of LeMaitre Vascular in a report on Friday, May 31st. JMP Securities upped their price objective on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the stock a market outperform rating in a research report on Friday, May 3rd. Barrington Research upped their price target on shares of LeMaitre Vascular from $79.00 to $92.00 and gave the stock an outperform rating in a research note on Friday. Roth Capital raised shares of LeMaitre Vascular to a strong-buy rating in a research note on Friday, May 31st. Finally, Lake Street Capital began coverage on shares of LeMaitre Vascular in a research note on Friday. They set a buy rating and a $105.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $86.50.

LeMaitre Vascular Price Performance

LMAT stock traded down $1.24 during mid-day trading on Friday, reaching $85.01. The company had a trading volume of 348,354 shares, compared to its average volume of 157,693. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $91.76. The stock has a 50 day simple moving average of $82.69 and a two-hundred day simple moving average of $71.79. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 2.63 and a beta of 0.89.

LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. LeMaitre Vascular had a return on equity of 12.63% and a net margin of 18.33%. The company had revenue of $55.85 million for the quarter, compared to analyst estimates of $54.98 million. During the same quarter last year, the company posted $0.37 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts predict that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.16 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.75%. LeMaitre Vascular’s dividend payout ratio is presently 42.38%.

Insiders Place Their Bets

In related news, CEO George W. Lemaitre sold 27,030 shares of LeMaitre Vascular stock in a transaction on Monday, July 15th. The stock was sold at an average price of $86.27, for a total transaction of $2,331,878.10. Following the completion of the sale, the chief executive officer now owns 1,958,328 shares of the company’s stock, valued at $168,944,956.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO George W. Lemaitre sold 12,976 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $86.07, for a total value of $1,116,844.32. Following the sale, the chief executive officer now directly owns 1,985,358 shares of the company’s stock, valued at approximately $170,879,763.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO George W. Lemaitre sold 27,030 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $86.27, for a total value of $2,331,878.10. Following the completion of the transaction, the chief executive officer now directly owns 1,958,328 shares in the company, valued at $168,944,956.56. The disclosure for this sale can be found here. Insiders sold 127,437 shares of company stock valued at $10,076,242 over the last ninety days. 10.79% of the stock is currently owned by insiders.

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.