LeMaitre Vascular (NASDAQ:LMAT) Issues Q3 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.420-0.460 for the period, compared to the consensus EPS estimate of 0.420. The company issued revenue guidance of $52.7 million-$54.7 million, compared to the consensus revenue estimate of $52.4 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.820-1.910 EPS.

LeMaitre Vascular Stock Performance

LMAT traded down $1.24 during midday trading on Friday, reaching $85.01. 348,354 shares of the company were exchanged, compared to its average volume of 157,693. LeMaitre Vascular has a one year low of $44.27 and a one year high of $91.76. The stock has a market capitalization of $1.91 billion, a P/E ratio of 56.30, a PEG ratio of 2.63 and a beta of 0.89. The stock’s 50-day simple moving average is $82.69 and its 200 day simple moving average is $71.79.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. LeMaitre Vascular had a return on equity of 12.63% and a net margin of 18.33%. The firm had revenue of $55.85 million for the quarter, compared to analysts’ expectations of $54.98 million. During the same quarter last year, the business earned $0.37 earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that LeMaitre Vascular will post 1.77 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, August 15th. LeMaitre Vascular’s dividend payout ratio is currently 42.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Stifel Nicolaus raised LeMaitre Vascular from a hold rating to a buy rating and raised their price target for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. JMP Securities lifted their target price on LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a research report on Friday, May 3rd. StockNews.com lowered LeMaitre Vascular from a buy rating to a hold rating in a research report on Friday. Roth Capital raised LeMaitre Vascular to a strong-buy rating in a research report on Friday, May 31st. Finally, Lake Street Capital began coverage on LeMaitre Vascular in a research report on Friday. They issued a buy rating and a $105.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $86.50.

Insiders Place Their Bets

In other news, CEO George W. Lemaitre sold 27,030 shares of LeMaitre Vascular stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $86.27, for a total transaction of $2,331,878.10. Following the completion of the transaction, the chief executive officer now directly owns 1,958,328 shares in the company, valued at approximately $168,944,956.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David B. Roberts sold 5,025 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $75.62, for a total value of $379,990.50. Following the completion of the sale, the director now directly owns 14,114 shares in the company, valued at approximately $1,067,300.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George W. Lemaitre sold 27,030 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $86.27, for a total value of $2,331,878.10. Following the completion of the sale, the chief executive officer now owns 1,958,328 shares of the company’s stock, valued at $168,944,956.56. The disclosure for this sale can be found here. Insiders have sold 127,437 shares of company stock valued at $10,076,242 in the last 90 days. 10.79% of the stock is currently owned by insiders.

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.