Zacks Investment Research Lowers LeMaitre Vascular (LMAT) to Hold

Zacks Investment Research downgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a buy rating to a hold rating in a report issued on Saturday, Zacks.com reports.

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. “

Other research analysts have also issued research reports about the company. BidaskClub lowered LeMaitre Vascular from a buy rating to a hold rating in a research report on Wednesday, March 27th. ValuEngine upgraded LeMaitre Vascular from a sell rating to a hold rating in a research report on Wednesday, February 20th. Lake Street Capital lifted their price target on LeMaitre Vascular to $27.00 and gave the stock a hold rating in a research report on Wednesday, February 20th. Finally, Roth Capital reissued a neutral rating on shares of LeMaitre Vascular in a research note on Thursday, February 21st. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $33.29.

LMAT opened at $28.81 on Friday. The stock has a market capitalization of $592.95 million, a P/E ratio of 34.30, a P/E/G ratio of 3.00 and a beta of 1.15. LeMaitre Vascular has a 12 month low of $21.79 and a 12 month high of $41.28.

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, hitting the Thomson Reuters’ consensus estimate of $0.24. The company had revenue of $28.39 million during the quarter, compared to analyst estimates of $26.06 million. LeMaitre Vascular had a return on equity of 17.71% and a net margin of 21.73%. As a group, analysts expect that LeMaitre Vascular will post 0.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 22nd were paid a $0.085 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.34 annualized dividend and a yield of 1.18%. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.07. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 40.48%.

In other LeMaitre Vascular news, insider Trent G. Kamke sold 16,604 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $588,362.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 20.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in LeMaitre Vascular by 2.2% in the fourth quarter. BlackRock Inc. now owns 2,601,309 shares of the medical instruments supplier’s stock worth $61,496,000 after purchasing an additional 56,161 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of LeMaitre Vascular by 4.1% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,673,131 shares of the medical instruments supplier’s stock valued at $39,553,000 after acquiring an additional 66,131 shares in the last quarter. Vanguard Group Inc raised its stake in shares of LeMaitre Vascular by 5.8% during the third quarter. Vanguard Group Inc now owns 1,208,742 shares of the medical instruments supplier’s stock valued at $46,826,000 after acquiring an additional 66,427 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of LeMaitre Vascular by 5.8% during the third quarter. Vanguard Group Inc. now owns 1,208,742 shares of the medical instruments supplier’s stock valued at $46,826,000 after acquiring an additional 66,427 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of LeMaitre Vascular by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,020,116 shares of the medical instruments supplier’s stock valued at $39,519,000 after acquiring an additional 14,038 shares in the last quarter. 76.52% 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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