LeMaitre Vascular (NASDAQ:LMAT) Rating Increased to Buy at Stifel Nicolaus

LeMaitre Vascular (NASDAQ:LMAT) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat reports. The firm presently has a $75.00 price target on the medical instruments supplier’s stock, up from their previous price target of $59.00. Stifel Nicolaus’ target price would indicate a potential upside of 19.07% from the stock’s current price.

LMAT has been the topic of several other reports. KeyCorp initiated coverage on LeMaitre Vascular in a report on Tuesday, February 6th. They issued a “sector weight” rating on the stock. Barrington Research raised their price objective on LeMaitre Vascular from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Finally, StockNews.com lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.33.

LeMaitre Vascular Stock Down 1.6 %

Shares of LMAT opened at $62.99 on Friday. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $74.64. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 47.01, a PEG ratio of 2.76 and a beta of 0.87. The stock’s 50-day moving average price is $65.30 and its 200-day moving average price is $58.05.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. LeMaitre Vascular had a return on equity of 10.57% and a net margin of 15.56%. The firm had revenue of $48.90 million for the quarter, compared to the consensus estimate of $49.01 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that LeMaitre Vascular will post 1.66 EPS for the current fiscal year.

Insider Activity

In other news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $69.76, for a total value of $2,578,817.92. Following the transaction, the chief financial officer now owns 6,452 shares in the company, valued at $450,091.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Lawrence J. Jasinski sold 5,110 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total value of $344,925.00. Following the transaction, the director now owns 5,309 shares in the company, valued at $358,357.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of LeMaitre Vascular stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $69.76, for a total value of $2,578,817.92. Following the transaction, the chief financial officer now owns 6,452 shares in the company, valued at approximately $450,091.52. The disclosure for this sale can be found here. Insiders have sold a total of 114,036 shares of company stock worth $7,873,749 over the last quarter. 10.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LeMaitre Vascular

Institutional investors have recently added to or reduced their stakes in the stock. BluePath Capital Management LLC purchased a new stake in LeMaitre Vascular in the third quarter valued at $31,000. DekaBank Deutsche Girozentrale purchased a new stake in LeMaitre Vascular in the third quarter valued at $38,000. SRS Capital Advisors Inc. raised its position in LeMaitre Vascular by 325.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 685 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 524 shares during the period. Albion Financial Group UT raised its position in LeMaitre Vascular by 5.6% in the first quarter. Albion Financial Group UT now owns 3,974 shares of the medical instruments supplier’s stock valued at $264,000 after purchasing an additional 212 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its position in LeMaitre Vascular by 78.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 5,329 shares of the medical instruments supplier’s stock valued at $290,000 after purchasing an additional 2,349 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.

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.