LeMaitre Vascular (NASDAQ:LMAT) Price Target Raised to $77.00 at JMP Securities

LeMaitre Vascular (NASDAQ:LMAT) had its price objective upped by JMP Securities from $72.00 to $77.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a market outperform rating on the medical instruments supplier’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of LeMaitre Vascular from a buy rating to a hold rating in a research report on Tuesday, April 16th. Stifel Nicolaus raised shares of LeMaitre Vascular from a hold rating to a buy rating and increased their price objective for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. KeyCorp began coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They set a sector weight rating for the company. Finally, Barrington Research increased their target price on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $73.83.

LeMaitre Vascular Price Performance

LeMaitre Vascular stock opened at $74.22 on Friday. The firm has a 50 day simple moving average of $65.93 and a 200-day simple moving average of $58.71. LeMaitre Vascular has a 1-year low of $44.27 and a 1-year high of $74.64. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 49.15, a price-to-earnings-growth ratio of 2.88 and a beta of 0.88.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $53.48 million during the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.75%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. Equities analysts expect that LeMaitre Vascular will post 1.66 earnings per share for the current fiscal year.

LeMaitre Vascular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.86%. LeMaitre Vascular’s payout ratio is 42.38%.

Insider Activity

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

Institutional Trading of LeMaitre Vascular

Several hedge funds and other institutional investors have recently made changes to their positions in LMAT. SG Americas Securities LLC purchased a new stake in shares of LeMaitre Vascular in the third quarter valued at about $884,000. Raymond James & Associates boosted its holdings in shares of LeMaitre Vascular by 4.1% in the third quarter. Raymond James & Associates now owns 24,827 shares of the medical instruments supplier’s stock valued at $1,353,000 after acquiring an additional 967 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of LeMaitre Vascular in the third quarter valued at about $31,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of LeMaitre Vascular by 94.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,320 shares of the medical instruments supplier’s stock valued at $998,000 after acquiring an additional 8,920 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of LeMaitre Vascular by 3.0% in the third quarter. Conestoga Capital Advisors LLC now owns 1,917,581 shares of the medical instruments supplier’s stock valued at $104,470,000 after acquiring an additional 55,895 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Company Profile

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.