Zacks Investment Research upgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $32.00 price objective on the medical instruments supplier’s stock.
According to Zacks, “LeMaitre Vascular, Inc. is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects the people worldwide. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre’s diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time. “
Several other analysts have also commented on LMAT. ValuEngine lowered shares of LeMaitre Vascular from a hold rating to a sell rating in a research report on Thursday. BidaskClub lowered shares of LeMaitre Vascular from a hold rating to a sell rating in a research report on Tuesday, April 16th. Roth Capital reaffirmed a neutral rating on shares of LeMaitre Vascular in a research report on Thursday, February 21st. Finally, Lake Street Capital reaffirmed a hold rating and set a $24.00 price target on shares of LeMaitre Vascular in a research report on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $33.29.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Tuesday, February 19th. The medical instruments supplier reported $0.24 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The firm had revenue of $28.39 million for the quarter, compared to analyst estimates of $26.06 million. LeMaitre Vascular had a net margin of 21.73% and a return on equity of 17.71%. As a group, sell-side analysts predict that LeMaitre Vascular will post 0.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, March 21st. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.07. LeMaitre Vascular’s dividend payout ratio (DPR) is 40.48%.
In related news, insider Trent G. Kamke sold 16,604 shares of LeMaitre Vascular stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $29.63, for a total value of $491,976.52. Following the completion of the sale, the insider now owns 19,857 shares in the company, valued at approximately $588,362.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in LeMaitre Vascular by 2.2% in the 4th quarter. BlackRock Inc. now owns 2,601,309 shares of the medical instruments supplier’s stock valued at $61,496,000 after purchasing an additional 56,161 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in LeMaitre Vascular by 35.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,376 shares of the medical instruments supplier’s stock valued at $595,000 after purchasing an additional 4,020 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in LeMaitre Vascular by 58.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 12,092 shares of the medical instruments supplier’s stock valued at $468,000 after purchasing an additional 4,441 shares during the last quarter. Legal & General Group Plc increased its holdings in LeMaitre Vascular by 11.0% in the 3rd quarter. Legal & General Group Plc now owns 33,785 shares of the medical instruments supplier’s stock valued at $1,295,000 after purchasing an additional 3,360 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in LeMaitre Vascular by 99.1% in the 4th quarter. Bank of Montreal Can now owns 1,113 shares of the medical instruments supplier’s stock valued at $26,000 after purchasing an additional 554 shares during the last quarter. Hedge funds and other institutional investors own 76.52% of the company’s stock.
About LeMaitre Vascular
LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.
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