LeMaitre Vascular (NASDAQ:LMAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $32.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 18.43% from the company’s previous close.
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 the 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 research firms also recently issued reports on LMAT. Barrington Research upgraded LeMaitre Vascular from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Monday. ValuEngine downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. BidaskClub upgraded LeMaitre Vascular from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. Canaccord Genuity raised their price target on LeMaitre Vascular from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, July 9th. Finally, Lake Street Capital downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.63.
Shares of LMAT stock traded down $0.29 on Tuesday, reaching $27.02. The stock had a trading volume of 1,776 shares, compared to its average volume of 150,687. The company has a market cap of $748.16 million, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63. LeMaitre Vascular has a 1 year low of $26.45 and a 1 year high of $41.28.
LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Friday, October 5th. The medical instruments supplier reported $0.21 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.21. The firm had revenue of $24.17 million for the quarter, compared to the consensus estimate of $26.06 million. LeMaitre Vascular had a return on equity of 19.49% and a net margin of 21.09%. Sell-side analysts expect that LeMaitre Vascular will post 1.07 earnings per share for the current year.
In related news, Chairman George W. Lemaitre sold 14,180 shares of LeMaitre Vascular stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $37.61, for a total transaction of $533,309.80. Following the transaction, the chairman now directly owns 3,118,266 shares in the company, valued at $117,277,984.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George W. Lemaitre sold 22,000 shares of LeMaitre Vascular stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $37.26, for a total value of $819,720.00. Following the transaction, the chief executive officer now owns 3,085,291 shares in the company, valued at $114,957,942.66. The disclosure for this sale can be found here. Insiders have sold 97,506 shares of company stock worth $3,608,759 over the last quarter. 20.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in LeMaitre Vascular during the second quarter valued at $119,000. Tower Research Capital LLC TRC lifted its position in LeMaitre Vascular by 222.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,451 shares of the medical instruments supplier’s stock valued at $149,000 after purchasing an additional 3,072 shares in the last quarter. Jane Street Group LLC purchased a new position in LeMaitre Vascular during the second quarter valued at $206,000. Dynamic Technology Lab Private Ltd purchased a new position in LeMaitre Vascular during the first quarter valued at $215,000. Finally, Creative Planning purchased a new position in LeMaitre Vascular during the second quarter valued at $220,000. Institutional investors own 79.75% of the company’s stock.
About LeMaitre Vascular
LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.
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