LeMaitre Vascular (LMAT) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

LMAT has been the subject of several other research reports. Barrington Research raised LeMaitre Vascular from a market perform rating to an outperform rating and set a $34.00 price objective for the company in a report on Monday, October 8th. Canaccord Genuity decreased their price objective on LeMaitre Vascular from $40.00 to $32.00 and set a hold rating for the company in a report on Monday, October 8th. ValuEngine lowered LeMaitre Vascular from a hold rating to a sell rating in a report on Saturday, October 6th. Lake Street Capital initiated coverage on LeMaitre Vascular in a report on Monday, June 25th. They issued a buy rating and a $45.00 price objective for the company. Finally, Zacks Investment Research raised LeMaitre Vascular from a hold rating to a buy rating and set a $32.00 price objective for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. LeMaitre Vascular has a consensus rating of Hold and a consensus target price of $35.63.

Shares of LeMaitre Vascular stock traded up $0.29 during trading hours on Tuesday, hitting $28.22. 222,174 shares of the company’s stock traded hands, compared to its average volume of 151,980. LeMaitre Vascular has a 12-month low of $26.45 and a 12-month high of $41.28. The firm has a market cap of $748.16 million, a PE ratio of 32.81, a P/E/G ratio of 2.42 and a beta of 0.63.

LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Friday, October 5th. The medical instruments supplier reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. LeMaitre Vascular had a return on equity of 19.49% and a net margin of 21.09%. The firm had revenue of $24.17 million during the quarter, compared to analyst estimates of $26.06 million. As a group, equities analysts forecast that LeMaitre Vascular will post 1.07 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Tuesday, November 20th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.99%. The ex-dividend date is Monday, November 19th. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 32.56%.

In other LeMaitre Vascular news, CEO George W. Lemaitre sold 22,000 shares of LeMaitre Vascular stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $37.26, for a total transaction of $819,720.00. Following the completion of the transaction, the chief executive officer now owns 3,085,291 shares of the company’s stock, valued at approximately $114,957,942.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman George W. Lemaitre sold 14,180 shares of LeMaitre Vascular stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $37.61, for a total value of $533,309.80. Following the transaction, the chairman now directly owns 3,118,266 shares of the company’s stock, valued at approximately $117,277,984.26. The disclosure for this sale can be found here. In the last three months, insiders sold 97,506 shares of company stock valued at $3,608,759. 20.30% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of LMAT. Epoch Investment Partners Inc. grew its holdings in LeMaitre Vascular by 20.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 932,093 shares of the medical instruments supplier’s stock valued at $31,207,000 after buying an additional 160,754 shares in the last quarter. Citadel Advisors LLC grew its holdings in LeMaitre Vascular by 2,304.4% during the 2nd quarter. Citadel Advisors LLC now owns 159,798 shares of the medical instruments supplier’s stock valued at $5,350,000 after buying an additional 153,152 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in LeMaitre Vascular by 8.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,392,591 shares of the medical instruments supplier’s stock valued at $46,624,000 after buying an additional 113,705 shares in the last quarter. BlackRock Inc. grew its holdings in LeMaitre Vascular by 4.0% during the 2nd quarter. BlackRock Inc. now owns 2,425,454 shares of the medical instruments supplier’s stock valued at $81,202,000 after buying an additional 93,615 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in LeMaitre Vascular by 14.4% during the 2nd quarter. Janus Henderson Group PLC now owns 691,670 shares of the medical instruments supplier’s stock valued at $23,157,000 after buying an additional 87,197 shares in the last quarter. 79.75% of the stock is owned by institutional investors and hedge funds.

LeMaitre Vascular Company Profile

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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