LeMaitre Vascular (NASDAQ:LMAT) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of LeMaitre Vascular (NASDAQ:LMAT) from a hold rating to a buy rating in a report released on Thursday, December 28th. The firm currently has $35.00 price target on the medical instruments supplier’s stock.

According to Zacks, “LeMaitre Vascular, Inc. is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects more than 200 million people worldwide. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre’s diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time. “

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus reissued a buy rating on shares of LeMaitre Vascular in a research report on Sunday, October 29th. Canaccord Genuity reduced their price target on shares of LeMaitre Vascular from $30.00 to $29.00 and set a hold rating for the company in a research report on Friday, October 27th. Benchmark lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a research note on Friday, October 27th. First Analysis lowered shares of LeMaitre Vascular from an overweight rating to an equal weight rating and set a $34.00 price objective on the stock. in a research note on Friday, October 27th. Finally, BidaskClub lowered shares of LeMaitre Vascular from a hold rating to a sell rating in a research note on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $32.20.

Shares of LeMaitre Vascular (NASDAQ:LMAT) opened at $32.64 on Thursday. LeMaitre Vascular has a 1-year low of $19.82 and a 1-year high of $39.88. The stock has a market cap of $620.91, a P/E ratio of 41.85, a PEG ratio of 2.46 and a beta of 0.54.

LeMaitre Vascular (NASDAQ:LMAT) last posted its earnings results on Thursday, October 26th. The medical instruments supplier reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The firm had revenue of $24.80 million during the quarter, compared to the consensus estimate of $25.49 million. LeMaitre Vascular had a net margin of 15.81% and a return on equity of 16.16%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. research analysts forecast that LeMaitre Vascular will post 0.84 earnings per share for the current year.

In related news, insider David B. Roberts sold 4,123 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $32.14, for a total transaction of $132,513.22. Following the transaction, the insider now owns 24,482 shares of the company’s stock, valued at $786,851.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 23.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in LeMaitre Vascular by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 995,747 shares of the medical instruments supplier’s stock worth $37,261,000 after purchasing an additional 27,515 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in LeMaitre Vascular by 51.2% during the third quarter. Conestoga Capital Advisors LLC now owns 854,644 shares of the medical instruments supplier’s stock worth $31,981,000 after purchasing an additional 289,575 shares during the last quarter. Vanguard Group Inc. increased its position in LeMaitre Vascular by 23.5% during the second quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock worth $25,462,000 after purchasing an additional 155,249 shares during the last quarter. State Street Corp increased its position in LeMaitre Vascular by 25.2% during the second quarter. State Street Corp now owns 382,824 shares of the medical instruments supplier’s stock worth $11,951,000 after purchasing an additional 77,009 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. increased its position in LeMaitre Vascular by 10.6% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 356,517 shares of the medical instruments supplier’s stock worth $11,351,000 after purchasing an additional 34,162 shares during the last quarter. 69.24% of the stock is owned by hedge funds and other institutional investors.

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LeMaitre Vascular Company Profile

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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