LeMaitre Vascular, Inc. (NASDAQ:LMAT) was downgraded by Benchmark Co. from a “buy” rating to a “hold” rating in a research note issued on Friday, October 27th, MarketBeat reports.
LMAT has been the topic of several other research reports. Zacks Investment Research lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $29.00) on shares of LeMaitre Vascular in a research note on Sunday, July 30th. First Analysis downgraded LeMaitre Vascular from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a report on Friday, October 27th. BidaskClub downgraded LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $30.00 price objective on shares of LeMaitre Vascular in a report on Monday, October 9th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.20.
Shares of LeMaitre Vascular (NASDAQ LMAT) traded up $0.11 during trading on Friday, hitting $33.50. The stock had a trading volume of 172,000 shares, compared to its average volume of 180,670. LeMaitre Vascular has a twelve month low of $19.82 and a twelve month high of $39.88. The firm has a market cap of $639.37, a price-to-earnings ratio of 43.36, a PEG ratio of 2.65 and a beta of 0.55.
LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. LeMaitre Vascular had a return on equity of 16.16% and a net margin of 15.81%. The business had revenue of $24.80 million for the quarter, compared to analyst estimates of $25.49 million. During the same quarter in the prior year, the company posted $0.17 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. research analysts forecast that LeMaitre Vascular will post 0.84 earnings per share for the current year.
LeMaitre Vascular announced that its board has initiated a stock buyback plan on Thursday, July 27th that permits the company to repurchase $7.50 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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In other LeMaitre Vascular news, insider David B. Roberts sold 26,683 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $36.67, for a total transaction of $978,465.61. Following the sale, the insider now owns 48,108 shares in the company, valued at approximately $1,764,120.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman George W. Lemaitre sold 40,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $33.89, for a total value of $1,355,600.00. Following the sale, the chairman now owns 3,390,508 shares in the company, valued at approximately $114,904,316.12. The disclosure for this sale can be found here. Insiders sold a total of 152,836 shares of company stock worth $5,415,816 in the last quarter. Company insiders own 23.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its holdings in LeMaitre Vascular by 11,612.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 3,716 shares during the period. Victory Capital Management Inc. boosted its position in shares of LeMaitre Vascular by 181.2% during the 3rd quarter. Victory Capital Management Inc. now owns 4,139 shares of the medical instruments supplier’s stock worth $155,000 after acquiring an additional 2,667 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of LeMaitre Vascular during the 2nd quarter worth about $137,000. LS Investment Advisors LLC boosted its position in shares of LeMaitre Vascular by 41.8% during the 3rd quarter. LS Investment Advisors LLC now owns 4,510 shares of the medical instruments supplier’s stock worth $169,000 after acquiring an additional 1,330 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in shares of LeMaitre Vascular during the 2nd quarter worth about $156,000. Institutional investors own 68.37% of the company’s stock.
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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