Financial Analysis: Haemonetics (HAE) versus LeMaitre Vascular (LMAT)

Haemonetics (NASDAQ: LMAT) and LeMaitre Vascular (NASDAQ:LMAT) are both medical companies, but which is the better business? We will contrast the two companies based on the strength of their earnings, institutional ownership, dividends, analyst recommendations, profitability, valuation and risk.

Dividends

LeMaitre Vascular pays an annual dividend of $0.28 per share and has a dividend yield of 0.8%. Haemonetics does not pay a dividend. LeMaitre Vascular pays out 32.6% of its earnings in the form of a dividend. LeMaitre Vascular has increased its dividend for 2 consecutive years.

Profitability

This table compares Haemonetics and LeMaitre Vascular’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Haemonetics 2.45% 15.00% 9.04%
LeMaitre Vascular 21.09% 19.49% 17.06%

Risk and Volatility

Haemonetics has a beta of 1.01, meaning that its share price is 1% more volatile than the S&P 500. Comparatively, LeMaitre Vascular has a beta of 0.6, meaning that its share price is 40% less volatile than the S&P 500.

Institutional and Insider Ownership

95.8% of Haemonetics shares are held by institutional investors. Comparatively, 79.8% of LeMaitre Vascular shares are held by institutional investors. 1.0% of Haemonetics shares are held by company insiders. Comparatively, 20.3% of LeMaitre Vascular shares are held by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company is poised for long-term growth.

Earnings & Valuation

This table compares Haemonetics and LeMaitre Vascular’s revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
Haemonetics $903.92 million 6.54 $45.57 million $1.87 61.20
LeMaitre Vascular $100.87 million 6.64 $17.17 million $0.86 40.34

Haemonetics has higher revenue and earnings than LeMaitre Vascular. LeMaitre Vascular is trading at a lower price-to-earnings ratio than Haemonetics, indicating that it is currently the more affordable of the two stocks.

Analyst Ratings

This is a summary of recent recommendations and price targets for Haemonetics and LeMaitre Vascular, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Haemonetics 0 2 4 0 2.67
LeMaitre Vascular 0 3 3 0 2.50

Haemonetics presently has a consensus price target of $97.00, suggesting a potential downside of 15.25%. LeMaitre Vascular has a consensus price target of $37.67, suggesting a potential upside of 8.58%. Given LeMaitre Vascular’s higher possible upside, analysts clearly believe LeMaitre Vascular is more favorable than Haemonetics.

Summary

Haemonetics beats LeMaitre Vascular on 9 of the 17 factors compared between the two stocks.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system. The company also provides automated blood component and manual whole blood collection systems, such as MCS brand apheresis equipment to collect specific blood components from the donor; disposable whole blood collection and component storage sets; SafeTrace Tx and El-Dorado Donor donation and blood unit management systems; Hemasphere software that provides support for blood drive planning; and Donor Doc and e-Donor software to enhance the donor recruitment and retention. In addition, it offers hospital products comprising TEG diagnostic systems that enables clinicians to assess the coagulation status of a patient at the point-of-care or laboratory setting; TEG Manager software, which connects various TEG analyzers throughout the hospital, providing clinicians remote access to active and historical test results that inform treatment decisions; Cell Saver Elite +, a surgical blood salvage system for cardiovascular, orthopedic, trauma, transplant, vascular, obstetrical, and gynecological surgeries; OrthoPAT, a perioperative autotranfusion system for orthopedic procedures; and BloodTrack, a suite of blood management and bedside transfusion solutions that combines software with hardware components, as well as an extension of the hospital's blood bank information system. Haemonetics Corporation was founded in 1971 and is headquartered in Braintree, Massachusetts.

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. It also provides carotid shunts that temporarily shunt the blood to the brain during the removal of plaque from the carotid artery in a carotid endarterectomy surgery; powered phlebectomy devices to remove varicose veins; and radiopaque tape, a medical-grade tape applied to the skin that enables interventionists to cross-refer between the inside and the outside of a patient's body, and allows them to locate tributaries or lesions beneath the skin. In addition, the company offers remote endarterectomy devices to remove plaque from arteries in the leg; valvulotomes that cuts valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and vascular grafts to bypass or replace diseased arteries. Further, it provides vascular patches, which are used for closure of vessels after surgical intervention, as well as endarterectomy and other vascular reconstruction; vessel closure systems to attach vessels to one another with titanium clips instead of sutures; and Reddick cholangiogram catheters to inject dye into the cystic duct during laparoscopic cholecystectomy, as well as laparoscopic accessory for use in laparoscopic gall bladder removal. LeMaitre Vascular, Inc. markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was founded in 1983 and is headquartered in Burlington, Massachusetts.

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