LeMaitre Vascular (NASDAQ:LMAT) Stock Crosses Above 50-Day Moving Average – Time to Sell?

LeMaitre Vascular, Inc. (NASDAQ:LMAT) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $81.19 and traded as high as $82.39. LeMaitre Vascular shares last traded at $81.26, with a volume of 270,727 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company cut their target price on LeMaitre Vascular from $104.00 to $94.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings downgraded shares of LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Zacks Research downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Citigroup reissued a “market outperform” rating on shares of LeMaitre Vascular in a report on Tuesday, July 21st. Finally, Barrington Research cut shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, LeMaitre Vascular has an average rating of “Hold” and a consensus price target of $110.60.

LeMaitre Vascular Trading Up 0.4%

The stock has a market cap of $1.86 billion, a P/E ratio of 28.51, a PEG ratio of 2.39 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 16.31 and a quick ratio of 13.96. The business’s 50 day simple moving average is $81.19 and its 200 day simple moving average is $94.18.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.07). LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The company had revenue of $70.38 million for the quarter, compared to analyst estimates of $71.47 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts expect that LeMaitre Vascular, Inc. will post 2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LeMaitre Vascular

Several hedge funds and other institutional investors have recently modified their holdings of LMAT. Sound Income Strategies LLC boosted its stake in LeMaitre Vascular by 425.6% in the 1st quarter. Sound Income Strategies LLC now owns 226 shares of the medical instruments supplier’s stock valued at $25,000 after buying an additional 183 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in LeMaitre Vascular during the first quarter worth $32,000. Sterling Capital Management LLC raised its stake in LeMaitre Vascular by 844.2% during the third quarter. Sterling Capital Management LLC now owns 727 shares of the medical instruments supplier’s stock worth $60,000 after acquiring an additional 650 shares in the last quarter. Nykredit A S acquired a new position in LeMaitre Vascular during the second quarter worth $82,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of LeMaitre Vascular during the second quarter valued at $102,000. Institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc is a medical device company focused on the treatment of peripheral vascular disease. The company develops, manufactures and markets products used primarily by vascular surgeons and other specialists in open vascular surgery procedures.

Its product portfolio includes biological and synthetic vascular grafts, carotid shunts, embolectomy and thrombectomy catheters, valvulotomes, vessel closure devices, vascular patches and surgical instruments. These products are designed to support procedures involving the arteries and veins, including the repair, reconstruction and treatment of diseased or obstructed blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular sells its products through a combination of direct sales personnel and distributors.