LeMaitre Vascular (LMAT) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a sell rating in a research note published on Thursday.

A number of other equities analysts have also recently issued reports on the company. BidaskClub cut LeMaitre Vascular from a hold rating to a sell rating in a report on Saturday, September 8th. Roth Capital upgraded LeMaitre Vascular from a neutral rating to a buy rating and dropped their price objective for the company from $39.00 to $34.00 in a report on Monday, October 8th. Canaccord Genuity dropped 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. Barrington Research upgraded 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. Finally, Lake Street Capital cut LeMaitre Vascular from a buy rating to a hold rating in a report on Friday, October 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $35.86.

LMAT traded up $0.22 during trading hours on Thursday, reaching $27.17. 160,866 shares of the company’s stock traded hands, compared to its average volume of 217,839. LeMaitre Vascular has a 52-week low of $26.39 and a 52-week high of $41.28. The stock has a market cap of $524.71 million, a P/E ratio of 26.13, a PEG ratio of 2.20 and a beta of 0.99.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Friday, October 5th. The medical instruments supplier reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. LeMaitre Vascular had a return on equity of 18.49% and a net margin of 20.52%. The company had revenue of $24.17 million during the quarter, compared to analysts’ expectations of $26.06 million. Sell-side analysts anticipate that LeMaitre Vascular will post 1.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Tuesday, November 20th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, November 19th. LeMaitre Vascular’s dividend payout ratio is 32.56%.

In other LeMaitre Vascular news, Director Michael H. Thomas sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $27.93, for a total value of $558,600.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $558,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman George W. Lemaitre sold 14,180 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $37.61, for a total value of $533,309.80. Following the completion of the sale, the chairman now owns 3,118,266 shares of the company’s stock, valued at $117,277,984.26. The disclosure for this sale can be found here. Insiders sold a total of 34,681 shares of company stock valued at $1,110,462 over the last quarter. Company insiders own 20.30% of the company’s stock.

Several hedge funds have recently modified their holdings of LMAT. SG Americas Securities LLC bought a new position in shares of LeMaitre Vascular in the 2nd quarter worth $394,000. Schwab Charles Investment Management Inc. raised its position in shares of LeMaitre Vascular by 11.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,656 shares of the medical instruments supplier’s stock worth $2,667,000 after acquiring an additional 8,199 shares in the last quarter. Millennium Management LLC bought a new position in shares of LeMaitre Vascular in the 1st quarter worth $600,000. Royce & Associates LP raised its position in shares of LeMaitre Vascular by 90.8% in the 2nd quarter. Royce & Associates LP now owns 83,374 shares of the medical instruments supplier’s stock worth $2,791,000 after acquiring an additional 39,683 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of LeMaitre Vascular in the 2nd quarter worth $263,000. Institutional investors and hedge funds own 80.15% of the company’s stock.

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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Analyst Recommendations for LeMaitre Vascular (NASDAQ:LMAT)

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