BidaskClub Downgrades LeMaitre Vascular (LMAT) to Sell

LeMaitre Vascular (NASDAQ:LMAT) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Barrington Research reiterated a “buy” rating and set a $32.00 target price on shares of LeMaitre Vascular in a report on Thursday, May 2nd. ValuEngine upgraded LeMaitre Vascular from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Roth Capital reiterated a “neutral” rating on shares of LeMaitre Vascular in a report on Thursday, February 21st. Finally, Lake Street Capital boosted their target price on LeMaitre Vascular to $27.00 and gave the stock a “hold” rating in a report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. LeMaitre Vascular currently has an average rating of “Hold” and an average price target of $31.00.

Shares of NASDAQ:LMAT opened at $26.62 on Friday. LeMaitre Vascular has a 1 year low of $21.79 and a 1 year high of $38.99. The stock has a market cap of $523.64 million, a PE ratio of 31.69, a PEG ratio of 2.67 and a beta of 1.08.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Wednesday, May 1st. The medical instruments supplier reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). LeMaitre Vascular had a return on equity of 16.76% and a net margin of 20.92%. The firm had revenue of $28.48 million for the quarter, compared to analysts’ expectations of $27.94 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts expect that LeMaitre Vascular will post 0.83 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in LeMaitre Vascular by 2.2% during the 4th quarter. BlackRock Inc. now owns 2,601,309 shares of the medical instruments supplier’s stock worth $61,496,000 after acquiring an additional 56,161 shares in the last quarter. Legal & General Group Plc lifted its position in LeMaitre Vascular by 11.0% during the 3rd quarter. Legal & General Group Plc now owns 33,785 shares of the medical instruments supplier’s stock worth $1,295,000 after acquiring an additional 3,360 shares in the last quarter. Bank of Montreal Can lifted its position in LeMaitre Vascular by 99.1% during the 4th quarter. Bank of Montreal Can now owns 1,113 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 554 shares in the last quarter. Arizona State Retirement System lifted its position in LeMaitre Vascular by 6.8% during the 4th quarter. Arizona State Retirement System now owns 24,426 shares of the medical instruments supplier’s stock worth $577,000 after acquiring an additional 1,558 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in LeMaitre Vascular by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 256,990 shares of the medical instruments supplier’s stock worth $6,075,000 after acquiring an additional 3,841 shares in the last quarter. 76.44% of the stock is currently 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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