Equities analysts expect that LeMaitre Vascular, Inc. (NASDAQ:LMAT) will post sales of $25.42 million for the current quarter, according to Zacks. Three analysts have issued estimates for LeMaitre Vascular’s earnings, with the highest sales estimate coming in at $25.45 million and the lowest estimate coming in at $25.40 million. LeMaitre Vascular posted sales of $23.22 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that LeMaitre Vascular will report full year sales of $25.42 million for the current year, with estimates ranging from $101.91 million to $102.00 million. For the next year, analysts anticipate that the business will post sales of $110.95 million per share, with estimates ranging from $110.05 million to $112.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover LeMaitre Vascular.
LeMaitre Vascular (NASDAQ:LMAT) last issued its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The firm had revenue of $25.80 million during the quarter, compared to the consensus estimate of $25.42 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year.
Several analysts recently commented on the stock. BidaskClub downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price target (up previously from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Zacks Investment Research upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, August 1st. Benchmark Co. upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Craig Hallum assumed coverage on shares of LeMaitre Vascular in a research report on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price target for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. LeMaitre Vascular presently has an average rating of “Hold” and a consensus target price of $30.17.
In other LeMaitre Vascular news, CEO George W. Lemaitre sold 10,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $33.62, for a total transaction of $336,200.00. Following the completion of the transaction, the chief executive officer now owns 3,436,808 shares in the company, valued at approximately $115,545,484.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO George W. Lemaitre sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $37.13, for a total transaction of $556,950.00. Following the transaction, the chief executive officer now owns 3,325,508 shares of the company’s stock, valued at approximately $123,476,112.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,121 shares of company stock valued at $12,825,992. 23.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in LMAT. BNP Paribas Arbitrage SA raised its position in LeMaitre Vascular by 11,612.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 3,716 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in LeMaitre Vascular during the 2nd quarter worth $137,000. Royce & Associates LP purchased a new position in LeMaitre Vascular during the 2nd quarter worth $156,000. Royal Bank of Canada raised its position in LeMaitre Vascular by 856.5% during the 2nd quarter. Royal Bank of Canada now owns 5,031 shares of the medical instruments supplier’s stock worth $157,000 after buying an additional 4,505 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in LeMaitre Vascular by 4,751.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,355 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 6,224 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.
Shares of LeMaitre Vascular (NASDAQ LMAT) traded up 0.773% during midday trading on Thursday, hitting $37.175. 47,882 shares of the stock were exchanged. LeMaitre Vascular has a 12 month low of $17.70 and a 12 month high of $37.90. The stock has a market cap of $707.14 million, a price-to-earnings ratio of 53.107 and a beta of 0.67. The firm’s 50-day moving average is $33.50 and its 200-day moving average is $28.93.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.055 per share. The ex-dividend date is Monday, August 21st. This represents a $0.22 dividend on an annualized basis and a yield of 0.60%. LeMaitre Vascular’s payout ratio is currently 31.88%.
LeMaitre Vascular declared that its Board of Directors has approved a share buyback program on Thursday, July 27th that permits the company to buyback $7.50 million in shares. This buyback authorization permits the medical instruments supplier to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
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About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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