LeMaitre Vascular (NASDAQ:LMAT) Cut to Hold at ValuEngine

ValuEngine lowered shares of LeMaitre Vascular (NASDAQ:LMAT) from a buy rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

A number of other research analysts have also commented on LMAT. Zacks Investment Research raised shares of LeMaitre Vascular from a hold rating to a strong-buy rating and set a $38.00 price objective for the company in a research report on Saturday, July 27th. Lake Street Capital upped their price objective on shares of LeMaitre Vascular from $27.00 to $34.00 and gave the company a hold rating in a research report on Thursday, July 25th. First Analysis raised shares of LeMaitre Vascular from a neutral rating to an outperform rating and upped their price objective for the company from $29.00 to $37.00 in a research report on Thursday, July 25th. BidaskClub raised shares of LeMaitre Vascular from a hold rating to a buy rating in a research report on Friday, July 19th. Finally, Barrington Research reaffirmed an outperform rating and set a $37.00 price objective (up previously from $32.00) on shares of LeMaitre Vascular in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. LeMaitre Vascular presently has a consensus rating of Buy and a consensus price target of $35.33.

Shares of LMAT opened at $31.45 on Tuesday. The company has a 50-day simple moving average of $30.92 and a 200-day simple moving average of $28.78. The firm has a market capitalization of $618.43 million, a P/E ratio of 37.44, a P/E/G ratio of 3.62 and a beta of 1.15. LeMaitre Vascular has a 52 week low of $21.79 and a 52 week high of $38.99.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Wednesday, July 24th. The medical instruments supplier reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The business had revenue of $29.48 million during the quarter, compared to analyst estimates of $28.90 million. LeMaitre Vascular had a net margin of 16.72% and a return on equity of 13.15%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities research analysts predict that LeMaitre Vascular will post 0.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be given a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.08%. The ex-dividend date is Tuesday, August 20th. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 40.48%.

In related news, Director Michael H. Thomas sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $32.10, for a total value of $481,500.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $481,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman George W. Lemaitre sold 66,037 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $34.45, for a total transaction of $2,274,974.65. Following the completion of the transaction, the chairman now directly owns 3,171,124 shares of the company’s stock, valued at approximately $109,245,221.80. The disclosure for this sale can be found here. Insiders sold 98,037 shares of company stock valued at $3,310,555 in the last three months. Company insiders own 19.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its stake in LeMaitre Vascular by 137.6% during the second quarter. Bank of Montreal Can now owns 2,675 shares of the medical instruments supplier’s stock worth $75,000 after buying an additional 1,549 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in LeMaitre Vascular by 66,640.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,337 shares of the medical instruments supplier’s stock worth $103,000 after buying an additional 3,332 shares during the last quarter. JPMorgan Chase & Co. grew its stake in LeMaitre Vascular by 22.3% during the second quarter. JPMorgan Chase & Co. now owns 5,215 shares of the medical instruments supplier’s stock worth $145,000 after buying an additional 951 shares during the last quarter. BB&T Corp bought a new stake in LeMaitre Vascular during the first quarter worth about $203,000. Finally, Globeflex Capital L P grew its stake in LeMaitre Vascular by 26.5% during the first quarter. Globeflex Capital L P now owns 6,578 shares of the medical instruments supplier’s stock worth $204,000 after buying an additional 1,378 shares during the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for LeMaitre Vascular (NASDAQ:LMAT)

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