LeMaitre Vascular (NASDAQ:LMAT) Hits New 12-Month High Following Earnings Beat

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s stock price reached a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $99.22 and last traded at $98.50, with a volume of 16733 shares trading hands. The stock had previously closed at $88.39.

The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $54.82 million for the quarter, compared to analyst estimates of $53.50 million. LeMaitre Vascular had a net margin of 18.33% and a return on equity of 12.41%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LMAT. Lake Street Capital began coverage on shares of LeMaitre Vascular in a research note on Friday, August 2nd. They set a “buy” rating and a $105.00 price objective for the company. StockNews.com downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Oppenheimer reiterated an “outperform” rating and set a $93.00 price objective (up previously from $90.00) on shares of LeMaitre Vascular in a research report on Friday. JMP Securities upped their target price on shares of LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a report on Tuesday, August 20th. Finally, Cantor Fitzgerald began coverage on shares of LeMaitre Vascular in a report on Tuesday, October 15th. They set a “neutral” rating and a $96.00 price target for the company. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.57.

Insider Transactions at LeMaitre Vascular

In related news, Director David B. Roberts sold 3,063 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $82.07, for a total value of $251,380.41. Following the completion of the sale, the director now directly owns 14,114 shares in the company, valued at approximately $1,158,335.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.79% of the company’s stock.

Institutional Investors Weigh In On LeMaitre Vascular

A number of institutional investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC raised its holdings in shares of LeMaitre Vascular by 52.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 264,217 shares of the medical instruments supplier’s stock worth $21,740,000 after purchasing an additional 90,573 shares during the period. F M Investments LLC acquired a new position in LeMaitre Vascular during the second quarter valued at approximately $7,443,000. Nicholas Investment Partners LP purchased a new stake in LeMaitre Vascular during the second quarter worth approximately $3,900,000. Janus Henderson Group PLC grew its stake in LeMaitre Vascular by 554.7% during the first quarter. Janus Henderson Group PLC now owns 55,730 shares of the medical instruments supplier’s stock worth $3,697,000 after buying an additional 47,218 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of LeMaitre Vascular by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 1,548,870 shares of the medical instruments supplier’s stock worth $87,914,000 after acquiring an additional 38,303 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Trading Up 7.3 %

The stock’s 50 day moving average price is $89.59 and its 200 day moving average price is $82.98. The firm has a market cap of $2.13 billion, a PE ratio of 56.81, a P/E/G ratio of 2.33 and a beta of 0.88.

About LeMaitre Vascular

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.