LeMaitre Vascular (NASDAQ:LMAT) Price Target Increased to $79.00 by Analysts at Barrington Research

LeMaitre Vascular (NASDAQ:LMAT) had its target price increased by research analysts at Barrington Research from $69.00 to $79.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective suggests a potential upside of 6.44% from the stock’s previous close.

LMAT has been the topic of several other reports. KeyCorp initiated coverage on shares of LeMaitre Vascular in a research note on Tuesday, February 6th. They issued a “sector weight” rating on the stock. StockNews.com lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $75.00 in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.83.

LeMaitre Vascular Trading Up 11.2 %

Shares of LMAT stock traded up $7.45 during trading on Friday, reaching $74.22. 329,984 shares of the company’s stock traded hands, compared to its average volume of 116,703. The company has a market capitalization of $1.67 billion, a P/E ratio of 55.39, a PEG ratio of 2.88 and a beta of 0.88. The firm’s 50-day moving average is $65.93 and its 200 day moving average is $58.71. LeMaitre Vascular has a 1 year low of $44.27 and a 1 year high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. LeMaitre Vascular had a net margin of 15.56% and a return on equity of 10.57%. The business had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $51.50 million. During the same period in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts predict that LeMaitre Vascular will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John A. Roush sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the completion of the transaction, the director now owns 2,278 shares in the company, valued at $157,182. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other LeMaitre Vascular news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the completion of the transaction, the chief financial officer now owns 6,452 shares in the company, valued at $450,091.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Roush sold 7,500 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total transaction of $517,500.00. Following the transaction, the director now owns 2,278 shares of the company’s stock, valued at approximately $157,182. The disclosure for this sale can be found here. Insiders sold a total of 114,036 shares of company stock worth $7,873,749 over the last three months. 10.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LeMaitre Vascular

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in LeMaitre Vascular in the 3rd quarter worth about $884,000. Raymond James & Associates increased its position in LeMaitre Vascular by 4.1% during the 3rd quarter. Raymond James & Associates now owns 24,827 shares of the medical instruments supplier’s stock valued at $1,353,000 after purchasing an additional 967 shares during the period. BluePath Capital Management LLC purchased a new position in LeMaitre Vascular during the 3rd quarter valued at about $31,000. Allspring Global Investments Holdings LLC increased its position in LeMaitre Vascular by 94.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,320 shares of the medical instruments supplier’s stock valued at $998,000 after purchasing an additional 8,920 shares during the period. Finally, Conestoga Capital Advisors LLC increased its position in LeMaitre Vascular by 3.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,917,581 shares of the medical instruments supplier’s stock valued at $104,470,000 after purchasing an additional 55,895 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.