Brokerages Set LeMaitre Vascular, Inc. (NASDAQ:LMAT) Target Price at $94.40

LeMaitre Vascular, Inc. (NASDAQ:LMAT) has been given a consensus rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $94.40.

Several research analysts have weighed in on LMAT shares. Roth Mkm reiterated a “buy” rating and set a $100.00 target price on shares of LeMaitre Vascular in a report on Friday, May 31st. JMP Securities lifted their price target on shares of LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 20th. Barrington Research reissued an “outperform” rating and set a $92.00 price objective on shares of LeMaitre Vascular in a research report on Friday. Lake Street Capital initiated coverage on shares of LeMaitre Vascular in a report on Friday, August 2nd. They set a “buy” rating and a $105.00 price objective on the stock. Finally, StockNews.com lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th.

LeMaitre Vascular Stock Performance

Shares of LMAT stock opened at $89.96 on Friday. The firm’s 50 day moving average price is $86.84 and its two-hundred day moving average price is $77.99. The stock has a market cap of $2.02 billion, a PE ratio of 59.58, a PEG ratio of 2.28 and a beta of 0.88. LeMaitre Vascular has a 52-week low of $44.27 and a 52-week high of $92.90.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. LeMaitre Vascular had a return on equity of 12.41% and a net margin of 18.33%. The business had revenue of $55.85 million during the quarter, compared to analysts’ expectations of $54.98 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that LeMaitre Vascular will post 1.85 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.16 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.64 annualized dividend and a yield of 0.71%. LeMaitre Vascular’s payout ratio is currently 42.38%.

Insider Transactions at LeMaitre Vascular

In other news, Director David B. Roberts sold 3,063 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $82.07, for a total transaction of $251,380.41. Following the sale, the director now owns 14,114 shares in the company, valued at approximately $1,158,335.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO George W. Lemaitre sold 27,030 shares of LeMaitre Vascular stock in a transaction dated 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 transaction, the chief executive officer now owns 1,958,328 shares in the company, valued at $168,944,956.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Roberts sold 3,063 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $82.07, for a total value of $251,380.41. Following the completion of the sale, the director now owns 14,114 shares in the company, valued at approximately $1,158,335.98. The disclosure for this sale can be found here. Insiders sold a total of 43,251 shares of company stock worth $3,714,994 in the last three months. Insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC lifted its holdings in LeMaitre Vascular by 0.4% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,941,501 shares of the medical instruments supplier’s stock valued at $159,747,000 after purchasing an additional 8,584 shares during the last quarter. Vanguard Group Inc. raised its position in shares of LeMaitre Vascular by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,553,834 shares of the medical instruments supplier’s stock valued at $103,112,000 after purchasing an additional 4,964 shares during the period. Ranger Investment Management L.P. lifted its stake in shares of LeMaitre Vascular by 1.5% during the 4th quarter. Ranger Investment Management L.P. now owns 912,503 shares of the medical instruments supplier’s stock worth $51,794,000 after buying an additional 13,681 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in shares of LeMaitre Vascular by 12.0% during the 1st quarter. Congress Asset Management Co. MA now owns 666,083 shares of the medical instruments supplier’s stock worth $44,201,000 after buying an additional 71,411 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in LeMaitre Vascular by 52.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 264,217 shares of the medical instruments supplier’s stock valued at $21,740,000 after buying an additional 90,573 shares during the last quarter. 84.64% of the stock is currently 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.