LeMaitre Vascular (NASDAQ:LMAT) Hits New 1-Year Low – Here’s What Happened

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $78.39 and last traded at $78.9630, with a volume of 252422 shares traded. The stock had previously closed at $79.96.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LMAT shares. Barrington Research downgraded LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 5th. Citigroup reaffirmed a “market outperform” rating on shares of LeMaitre Vascular in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings downgraded LeMaitre Vascular from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 14th. Finally, Wells Fargo & Company reduced their target price on LeMaitre Vascular from $104.00 to $94.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $110.60.

LeMaitre Vascular Stock Performance

The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.36 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 13.96 and a current ratio of 16.31. The stock’s fifty day moving average is $94.14 and its two-hundred day moving average is $99.62.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.07). LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The firm had revenue of $70.38 million during the quarter, compared to analysts’ expectations of $71.47 million. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts forecast that LeMaitre Vascular, Inc. will post 2.89 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. LeMaitre Vascular’s payout ratio is presently 35.09%.

Hedge Funds Weigh In On LeMaitre Vascular

A number of hedge funds have recently bought and sold shares of LMAT. Royal Bank of Canada increased its stake in LeMaitre Vascular by 1.5% during the first quarter. Royal Bank of Canada now owns 114,176 shares of the medical instruments supplier’s stock valued at $9,579,000 after purchasing an additional 1,735 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of LeMaitre Vascular by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 27,878 shares of the medical instruments supplier’s stock worth $2,339,000 after purchasing an additional 7,445 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in LeMaitre Vascular by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,078 shares of the medical instruments supplier’s stock valued at $1,013,000 after purchasing an additional 539 shares during the period. Millennium Management LLC grew its stake in LeMaitre Vascular by 119.8% during the 1st quarter. Millennium Management LLC now owns 211,222 shares of the medical instruments supplier’s stock worth $17,722,000 after buying an additional 115,141 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in LeMaitre Vascular by 27.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 262,445 shares of the medical instruments supplier’s stock worth $22,019,000 after buying an additional 55,804 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc is a specialty medical device company focused on the development, manufacture and marketing of products for the treatment of peripheral vascular disease. Headquartered in Burlington, Massachusetts, the company’s offerings include a broad portfolio of vascular surgical instruments, grafts, patches, catheters and embolic protection devices. LeMaitre’s product lines address key areas such as arterial reconstruction, endovascular repair and vascular access, serving the needs of cardiovascular surgeons and interventional specialists.

Founded in 1983 by George D.