LeMaitre Vascular (NASDAQ:LMAT) Hits New 52-Week High Following Strong Earnings

Posted by Defense World Staff on May 4th, 2023

LeMaitre Vascular, Inc. (NASDAQ:LMAT – Get Rating) hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $63.45 and last traded at $63.27, with a volume of 130102 shares changing hands. The stock had previously closed at $54.75.

The medical instruments supplier reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $47.08 million during the quarter, compared to analysts’ expectations of $43.54 million. LeMaitre Vascular had a net margin of 12.77% and a return on equity of 9.00%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share.

LeMaitre Vascular Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.89%. LeMaitre Vascular’s payout ratio is 60.22%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LMAT. Roth Capital restated a “neutral” rating on shares of LeMaitre Vascular in a report on Tuesday, March 7th. StockNews.com raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Sunday, April 9th. Finally, Barrington Research raised shares of LeMaitre Vascular from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research report on Wednesday.

Insider Buying and Selling at LeMaitre Vascular

In other LeMaitre Vascular news, insider Trent G. Kamke sold 6,414 shares of LeMaitre Vascular stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $50.94, for a total transaction of $326,729.16. Following the transaction, the insider now directly owns 3,791 shares of the company’s stock, valued at $193,113.54. The sale was disclosed in a filing with the SEC, which is available at this link. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of LeMaitre Vascular by 0.8% during the third quarter. BlackRock Inc. now owns 3,267,883 shares of the medical instruments supplier’s stock worth $165,616,000 after purchasing an additional 26,787 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in LeMaitre Vascular by 0.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,853,195 shares of the medical instruments supplier’s stock valued at $95,384,000 after acquiring an additional 11,694 shares during the last quarter. Vanguard Group Inc. boosted its stake in LeMaitre Vascular by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 1,426,235 shares of the medical instruments supplier’s stock valued at $66,278,000 after acquiring an additional 130,881 shares during the last quarter. Copeland Capital Management LLC boosted its stake in LeMaitre Vascular by 6.8% during the 1st quarter. Copeland Capital Management LLC now owns 1,364,742 shares of the medical instruments supplier’s stock valued at $70,243,000 after acquiring an additional 87,264 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its stake in LeMaitre Vascular by 4.1% during the 3rd quarter. Geneva Capital Management LLC now owns 891,838 shares of the medical instruments supplier’s stock valued at $45,199,000 after acquiring an additional 35,059 shares during the last quarter. 86.85% of the stock is owned by institutional investors and hedge funds.

LeMaitre Vascular Trading Up 15.2 %

The stock has a market capitalization of $1.40 billion, a P/E ratio of 67.84, a P/E/G ratio of 4.62 and a beta of 0.99. The stock’s 50 day simple moving average is $51.70 and its 200 day simple moving average is $48.48.

About LeMaitre Vascular

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LeMaitre Vascular, Inc engages in the provision of medical devices and human tissue cryopreservation services. The company focuses on the design, marketing, sales, service, and technical support of medical devices and implants for the treatment of peripheral vascular disease. Its products include balloon catheters, carotid shunts, biologic patches, radiopaque marking tape, anastomotic clips, remote endarterectomy devices, laparoscopic cholecystectomy devices, vascular grafts, and powered phlebectomy.