Brokerages Set LeMaitre Vascular, Inc. (NASDAQ:LMAT) Target Price at $112.60

Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) have received an average rating of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $110.60.

LMAT has been the topic of a number of research reports. Citizens Jmp raised their price objective on LeMaitre Vascular from $118.00 to $127.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company decreased their target price on LeMaitre Vascular from $104.00 to $94.00 and set an “equal weight” rating for the company in a report on Wednesday. Zacks Research downgraded shares of LeMaitre Vascular from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Barrington Research cut shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research report on Wednesday.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LMAT. Illinois Municipal Retirement Fund increased its position in LeMaitre Vascular by 1.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 11,171 shares of the medical instruments supplier’s stock valued at $906,000 after acquiring an additional 123 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of LeMaitre Vascular by 4.6% during the fourth quarter. NewEdge Advisors LLC now owns 3,158 shares of the medical instruments supplier’s stock worth $256,000 after purchasing an additional 139 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of LeMaitre Vascular by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 11,986 shares of the medical instruments supplier’s stock worth $971,000 after purchasing an additional 147 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of LeMaitre Vascular by 0.4% during the second quarter. Federated Hermes Inc. now owns 39,659 shares of the medical instruments supplier’s stock valued at $3,294,000 after purchasing an additional 155 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of LeMaitre Vascular by 5.5% during the first quarter. Pictet Asset Management Holding SA now owns 3,259 shares of the medical instruments supplier’s stock valued at $356,000 after purchasing an additional 169 shares during the last quarter. 84.64% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting LeMaitre Vascular

Here are the key news stories impacting LeMaitre Vascular this week:

• Positive Sentiment: International sales growth and underlying demand were key positives in the second-quarter review. Revenue increased 9.6% year over year to $70.38 million, although growth was constrained by supply issues. LMAT Q2 Deep Dive: International Growth and Supply Constraints Shape Results
• Neutral Sentiment: LeMaitre will hold investor meetings at the Needham Virtual MedTech & Diagnostics 1×1 Conference on August 11. The event could provide management an opportunity to discuss international expansion, supply availability and its outlook, but no new financial guidance was announced. LeMaitre to Participate in the 11th Annual Needham Virtual MedTech & Diagnostics 1×1 Conference
• Neutral Sentiment: Wells Fargo maintained its Hold rating, signaling limited near-term conviction and a cautious outlook rather than a fresh bullish catalyst. Wells Fargo Sticks to Its Hold Rating for LeMaitre Vascular
• Negative Sentiment: Second-quarter adjusted earnings were $0.74 per share, below the $0.81 consensus estimate, while revenue of $70.38 million missed expectations of $71.47 million. The shortfall triggered a sharp decline and a gap lower in the shares. LeMaitre misses Q2 revenue estimates
• Negative Sentiment: Barrington Research downgraded LMAT to Market Perform, adding to concerns that the stock’s valuation and near-term growth prospects may be less attractive. Barrington Research Downgrades LeMaitre Vascular
• Negative Sentiment: The shares reached a new 12-month low following analyst caution and the earnings disappointment, reinforcing the negative market reaction. LeMaitre Vascular Hits New 12-Month Low

LeMaitre Vascular Stock Performance

NASDAQ:LMAT opened at $81.45 on Friday. The company has a current ratio of 16.31, a quick ratio of 12.20 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $96.54 and a two-hundred day moving average price of $99.81. LeMaitre Vascular has a twelve month low of $78.65 and a twelve month high of $118.01. The company has a market capitalization of $1.86 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.33 and a beta of 0.53.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results 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). The company had revenue of $70.38 million during the quarter, compared to analyst estimates of $71.47 million. LeMaitre Vascular had a return on equity of 15.63% and a net margin of 25.02%.The business’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. As a group, research analysts expect that LeMaitre Vascular will post 2.89 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 20th. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 35.09%.

About LeMaitre Vascular

LeMaitre Vascular, Inc is a specialty medical device company focused on the development, manufacture and marketing of products for the treatment of peripheral vascular disease. Headquartered in Burlington, Massachusetts, the company’s offerings include a broad portfolio of vascular surgical instruments, grafts, patches, catheters and embolic protection devices. LeMaitre’s product lines address key areas such as arterial reconstruction, endovascular repair and vascular access, serving the needs of cardiovascular surgeons and interventional specialists.

Founded in 1983 by George D.